Establishing 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.
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This concurrent resolution would set congressional budget targets for fiscal years 2025 through 2034 and would direct eleven House committees to draft reconciliation legislation that could cut spending, increase deficits by up to $4.5 trillion for tax policy, and raise the statutory debt limit by $4 trillion.
Because reconciliation bills can pass the Senate with a simple majority and are shielded from filibuster, this resolution would set up the parliamentary framework for a major tax-and-spending package without needing bipartisan support.
What this bill would do
What it would do
The resolution would establish the congressional budget for fiscal year 2025 and recommended budgetary levels for revenues, spending, and deficits through fiscal year 2034. Its central feature is a set of reconciliation instructions directing eleven House committees — including Ways and Means, Energy and Commerce, Agriculture, and Education and Workforce — to submit legislation changing laws within their jurisdiction by March 27, 2025 (later text says May 9, 2025), to hit specified deficit targets. The Ways and Means Committee could increase the deficit by up to $4.5 trillion, largely for tax policy, and would also be instructed to raise the statutory debt limit by $4 trillion. It also creates several reserve funds allowing budget adjustments for deregulation, spending-reduction, and Medicare/Medicaid-related legislation. The resolution does not itself enact any tax or spending changes — it only sets targets and procedural instructions. If committees' combined deficit reduction proposals fall short of $2 trillion, the resolution would require the Ways and Means Committee's allowed deficit increase to be reduced correspondingly, and vice versa if the target is exceeded.
Key provisions
- 1Would establish the FY2025 congressional budget and recommended revenue, spending, deficit, and debt levels through FY2034
- 2Would direct eleven House committees to submit reconciliation legislation changing law within their jurisdiction to meet specified deficit targets
- 3Would direct the Ways and Means Committee to submit legislation increasing the statutory debt limit by $4 trillion
- 4Would allow the Ways and Means Committee's permitted deficit increase (up to $4.5 trillion) to be automatically adjusted based on whether other committees hit a $2 trillion deficit-reduction target
- 5Would create reserve funds allowing budget adjustments for deregulation, large spending-reduction, tax-policy-baseline, and Medicare/Medicaid-related reconciliation legislation
- 6Would direct comparable Senate committees to submit reconciliation recommendations and instruct the Senate Finance Committee to raise the debt limit by up to $5 trillion
Who would be affected
The instructions directly bind eleven House committees and corresponding Senate committees, which must draft implementing legislation. Ultimately, taxpayers, federal beneficiaries of programs like Medicaid and SNAP, federal agencies with discretionary budgets, and anyone affected by the eventual reconciliation bill and any statutory debt-limit increase would be affected.
Why it matters
By setting reconciliation instructions, the resolution would open a fast-track legislative path that lets a follow-on bill pass the Senate with a simple majority, bypassing the 60-vote threshold needed to overcome a filibuster. The scale of the numbers involved — trillions in potential tax cuts, spending cuts, and debt-limit increases — makes the eventual reconciliation bill likely to be consequential for federal programs and the national debt.
What would change
Changes to existing law
Amends Congressional Budget Act of 1974 (Sec. 4002)
Uses and modifies enforcement mechanisms under sections 302 and 311 to set committee allocations and adjust budgetary levels
Amends Statutory debt limit (Sec. 2001(c), Sec. 2002(b))
Instructs committees to draft legislation raising the debt limit by $4 trillion (House) or up to $5 trillion (Senate)
Agencies directed to act
Effective dates
- Deadline for House committees to submit reconciliation recommendations to the Budget Committee
- Deadline for Senate committees to submit reconciliation recommendations
- Deadline for the Senate Finance Committee to report a debt-limit increase
Funding and costs
- $4,500,000,000,000
maximum deficit increase permitted for Ways and Means Committee reconciliation legislation, largely tax policy
- $4,000,000,000,000
increase in the statutory debt limit directed by the House Ways and Means Committee
- $5,000,000,000,000
maximum increase in the statutory debt limit directed by the Senate Finance Committee
- $2,000,000,000,000
target net deficit reduction from designated committees, triggering automatic adjustment to the Ways and Means instruction
- $230,000,000,000
minimum deficit reduction required from the House Agriculture Committee
- $880,000,000,000
minimum deficit reduction required from the House Energy and Commerce Committee
- $330,000,000,000
minimum deficit reduction required from the House Education and Workforce Committee
Congressional Budget Office estimate
CBO estimates that the House Committee on the Judiciary's reconciliation recommendations would increase deficits by less than $110 billion over the 2025–2034 period.
CBO reviewed the reconciliation recommendations of the House Committee on the Judiciary, submitted pursuant to the budget resolution H. Con. Res. 14, which instructed the Committee to produce changes in law that increase the deficit by no more than $110 billion over fiscal years 2025 through 2034. CBO found that the Committee's recommendations comply with that instruction — the estimated deficit increase falls below the $110 billion cap over the 2025–2034 period. CBO also determined that the recommendations would not increase on-budget deficits in any year after 2034. The letter does not provide a more specific dollar figure for the estimated deficit increase, nor does it identify intergovernmental or private-sector mandates.
How implementation would work
The resolution sets deficit-impact ceilings or floors for each named House and Senate committee and requires them to submit legislative language to the Budget Committee by a set deadline. The House Budget Committee chair then determines compliance with the instructions and can adjust committee allocations under listed reserve funds to accommodate the final package. If committees' combined savings fall short of or exceed a $2 trillion target, the Ways and Means Committee's allowed deficit increase is automatically adjusted up or down. The Senate Budget Committee must then report a combined reconciliation bill from all Senate committee submissions without substantive revision, which can proceed under expedited, filibuster-proof procedures.
Legislative status & sources
Latest action
Star Print ordered on the reported concurrent resolution.
Official CRS summary
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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 and increases the statutory debt limit by specified amounts.
The resolution recommends levels and amounts for FY2025-FY2034 for
- federal revenues,
- new budget authority,
- budget outlays,
- deficits,
- debt subject to limit,
- debt held by the public, and
- the major functional categories of spending.
The resolution includes reconciliation instructions that direct 11 House committees to submit legislation that will increase or decrease the deficit over FY2025-FY2034 and increase the statutory debt limit by specified amounts. The committees must submit the legislation to the House Budget Committee by March 27, 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 a reserve fund that allows certain adjustments to committee allocations and other budgetary levels to accommodate reconciliation legislation.
The resolution also requires the maximum deficit increase permitted by the reconciliation instruction for the House Ways and Means Committee ($4.5 trillion in the resolution) to be reduced if the proposals submitted by certain committees do not achieve a total of at least $2 trillion in net deficit reduction (or increased if more than $2 trillion in deficit reduction is achieved).
Finally, the resolution sets forth budget enforcement procedures that address issues such as adjustments to committee allocations and the budgetary treatment of the discretionary administrative expenses for the Social Security Administration and the U.S. Postal Service.
Legislative subjects
Budget deficits and national debt; Budget process; Economics and Public Finance; House of Representatives; Legislative rules and procedure
Committee report
H. Rept. 119-4