S. Con. Res. 7 · Passed Senate · Economics and Public Finance

An original concurrent resolution setting forth the congressional budget for the United States Government for fiscal year 2025 and setting forth the appropriate budgetary levels for fiscal years 2026 through 2034.

What it does

Establishes total federal revenues, budget authority, and spending levels for fiscal year 2025 and sets budgetary targets for fiscal years 2026 through 2034.
Directs House and Senate committees to submit reconciliation legislation by March 7, 2025, that will increase or decrease the deficit by specified dollar amounts over the ten-year period.
Creates reserve funds to allow adjustments to committee budgetary allocations when reconciliation legislation or deficit-neutral bills are enacted.
Exempts reconciliation bills complying with this resolution from certain procedural restrictions, enabling Senate passage with a simple majority and limited amendments.

Official summary

This concurrent resolution establishes the congressional budget for the federal government for FY2025, sets forth budgetary levels for FY2026-FY2034, and provides reconciliation instructions for legislation that increases or decreases the deficit by specified amounts. The resolution recommends levels and amounts for FY2025-FY2034 for federal revenues, new budget authority, budget outlays, deficits, public debt, debt held by the public, and the major functional categories of spending. It also recommends levels and amounts for Social Security and Postal Service discretionary administrative expenses for the purpose of budget enforcement in the Senate. The resolution includes reconciliation instructions that direct several House and Senate committees to report legislation that will increase or decrease the deficit over FY2025-FY2034 by specified amounts. The committees must submit the legislation to the applicable congressional budget committee by March 7, 2025. (Under current law, reconciliation bills are considered by Congress using expedited legislative procedures that prevent a filibuster and restrict amendments in the Senate.) In addition, the resolution establishes reserve…

Latest action

Feb 21, 2025: Resolution agreed to in Senate with amendments by Yea-Nay Vote. 52 - 48. Record Vote Number: 87. (text: CR S1119-1125)

Committee: Senate Budget