SCONRES 7
Passed a chamber
Sets federal revenue, spending, and deficit targets for fiscal year 2025 and the years through 2034, and directs House and Senate committees to draft changes to laws within their jurisdiction that reduce or limit deficits.
Official title: 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.
Timeline each lane is a chamber; dates pull from congress.gov actions
Senate
Introduced
13-FEB-2025
Reported
13-FEB-2025
On the calendar
13-FEB-2025
Passed
21-FEB-2025
- Sets federal revenues at $3.85 trillion for fiscal year 2025 and projects a deficit of $782.9 billion that year.
- Sets total budget authority at $4.66 trillion and total outlays at $4.64 trillion for fiscal year 2025, with spending broken down by category such as National Defense, Health, and Medicare.
- Instructs House and Senate committees to report law changes that reduce the deficit by at least $1 billion over fiscal years 2025 through 2034, or that increase it by capped amounts for Armed Services, Homeland Security, Judiciary, and Transportation.
- Creates reserve funds that let the Budget Committee chairs adjust targets for deficit-neutral bills, including bills protecting Medicare and Medicaid and bills reducing federal regulations, and requires committee recommendations by March 7, 2025.
Covers an older version. The newest CRS summary describes the bill as of "Introduced in Senate" (13-FEB-2025); the text has changed since (Engrossed in Senate, 21-FEB-2025).
CRS is the Library of Congress's nonpartisan research office. Read it on congress.gov- Budget Committee (Senate)
Economics and Public Finance
No cosponsors.