This concurrent resolution sets the federal budget for fiscal year 2025 and establishes budgetary levels for fiscal years 2026-2034, outlining spending and revenue plans, reconciliation instructions for committees, reserve funds, and other budgetary procedures. It aims to guide government spending and fiscal policy over the next decade.
Lindsey Graham
Senator
SC
This concurrent resolution sets the federal budget for fiscal year 2025 and outlines budgetary levels through 2034, covering federal revenues, spending, and debt. It directs specific congressional committees to propose legislation that impacts the federal deficit, with targeted reductions and allowances for increases. The resolution establishes reserve funds to facilitate budgetary adjustments for priority legislation, such as measures related to Medicare, Medicaid, and deregulation. Additionally, it details enforcement procedures and the treatment of administrative expenses, granting authority to Budget Committee chairs to make necessary adjustments based on changing conditions.
| Party | Total Votes | Yes | No | Did Not Vote |
|---|---|---|---|---|
Democrat | 45 | 0 | 45 | 0 |
Independent | 2 | 0 | 2 | 0 |
Republican | 53 | 52 | 1 | 0 |
Congress's 2025 Budget Blueprint: Trillion-Dollar Deficits and Spending Shifts Through 2034
The new Congressional budget resolution for fiscal year 2025 is out, and it's a roadmap for federal spending all the way through 2034. This isn't just a one-year plan; it sets the stage for a decade of government financial decisions, projecting revenues, spending, and, crucially, deficits.
The Big Picture: Dollars and Deficits
This resolution lays out some serious numbers. For 2025, it projects $3.85 trillion in federal revenue, but spending is pegged at $4.64 trillion. That's a $783 billion deficit, and those deficits are projected to keep climbing, hitting over $1 trillion annually by 2028 (Sec. 1101). To put that in perspective, imagine adding close to a trillion dollars each year to the national credit card. The total public debt? It's projected to balloon to over $48 trillion by 2034 (Sec. 1101). The resolution also states that federal revenues are not expected to change relative to current policy from 2025-2034 (Sec. 1101).
Where Your Money Goes: From Defense to Medicare
The resolution breaks down spending across major government functions (Sec. 1102). National Defense gets a hefty chunk, starting at $933.481 billion in 2025 and rising to over a trillion by 2034. Health and Medicare also see significant allocations, with Medicare alone reaching $1.666 trillion by 2034. Meanwhile, areas like Energy and Agriculture see fluctuating, and in some cases decreasing, budget authority over the decade. For example, a farmer relying on federal agricultural programs might see shifts in available funding based on these projections.
Showdown at the Committee Corral: Reconciliation Instructions
Here's where things get interesting. Title II, the "Reconciliation" section (Sec. 2001, 2002), directs various House and Senate committees to propose specific law changes. Some, like Agriculture, Education and Workforce, and Energy and Commerce, are told to find ways to reduce the deficit. Others, including Armed Services, Homeland Security, and the Judiciary, are allowed to increase the deficit, but within set limits. Think of it like this: some committees are told to tighten their belts, while others get a bit more leeway, but everyone has a target to hit by March 7, 2025. These changes could mean real-world impacts, depending on what specific laws each committee decides to tweak.
Budget Tweaks and Twists: Reserve Funds
Title III (Sec. 3001, 3002) creates "reserve funds." Essentially, these allow the Budget Committee chairs to adjust budgets if new legislation comes along that fits within the overall deficit goals. It's a bit like having a financial buffer for unexpected expenses or policy changes. Section 4005 also lets the Budget Committees adjust figures if there are changes in budget concepts and definitions. While this provides flexibility, it also means the numbers could shift down the line.
Bottom Line
While the resolution doesn't include specific policy changes, it sets the financial boundaries for those debates. The projected deficits and the instructions to committees highlight the ongoing tension between funding government programs and managing the national debt. The details will emerge as individual committees propose and debate specific legislation, but this resolution provides the framework, and the clock is ticking.