IV 
Union Calendar No. 469 
118TH CONGRESS 
2D SESSION 
H. CON. RES. 117 
[Report No. 118–568] 
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. 
IN THE HOUSE OF REPRESENTATIVES 
JUNE 27, 2024 
Mr. ARRINGTON from the Committee on the Budget, reported the following 
concurrent resolution; which was committed to the Committee of the 
Whole House on the State of the Union and ordered to be printed 
CONCURRENT RESOLUTION 
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. 
Resolved by the House of Representatives (the Senate 
concurring), That 
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SECTION 1. CONCURRENT RESOLUTION ON THE BUDGET 
FOR FISCAL YEAR 2025. 
(a) DECLARATION.—The Congress determines and 
declares that prior concurrent resolutions on the budget 
are replaced as of fiscal year 2025 and that this concur-
rent resolution establishes the budget for fiscal year 2025 
and sets forth the appropriate budgetary levels for fiscal 
years 2026 through 2034. 
(b) TABLE OF CONTENTS.—The table of contents for 
this concurrent resolution is as follows: 
Sec. 1. Concurrent resolution on the budget for fiscal year 2025. 
TITLE I—RECOMMENDED LEVELS AND AMOUNTS 
Sec. 101. Recommended levels and amounts. 
Sec. 102. Major functional categories. 
TITLE II—BUDGET ENFORCEMENT IN THE HOUSE OF 
REPRESENTATIVES 
Sec. 201. Point of order against increasing long-term direct spending. 
Sec. 202. Limitation on changes in certain mandatory programs. 
Sec. 203. Limitation on advance appropriations. 
Sec. 204. Estimates of debt service costs. 
Sec. 205. Fair-value credit estimates. 
Sec. 206. Adjustments for improved control of budgetary resources. 
Sec. 207. Limitation on transfers from the general fund of the Treasury to the 
Highway Trust Fund. 
Sec. 208. Budgetary treatment of administrative expenses. 
Sec. 209. Application and effect of changes in allocations and aggregates. 
Sec. 210. Adjustments to reflect changes in concepts and definitions. 
Sec. 211. Adjustment for changes in the baseline. 
Sec. 212. Exercise of rulemaking powers. 
TITLE III—RESERVE FUNDS IN THE HOUSE OF 
REPRESENTATIVES 
Sec. 301. Deficit neutral reserve fund for investments in national infrastruc-
ture. 
Sec. 302. Reserve fund for pro-growth tax policies. 
Sec. 303. Deficit neutral reserve fund for medical innovation. 
Sec. 304. Reserve fund for trade agreements. 
TITLE IV—POLICY STATEMENTS IN THE HOUSE OF 
REPRESENTATIVES 
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Sec. 401. Policy statement on economic growth. 
Sec. 402. Policy statement on unauthorized appropriations. 
Sec. 403. Policy statement on improper payments. 
Sec. 404. Policy statement on budget gimmick reform. 
Sec. 405. Policy statement on higher education and the American workforce. 
Sec. 406. Policy statement on Medicare. 
Sec. 407. Policy statement on promoting patient-centered health care reform. 
Sec. 408. Policy statement on medical innovation. 
Sec. 409. Policy statement on Medicaid work requirements. 
Sec. 410. Policy statement on combating the opioid epidemic. 
Sec. 411. Policy statement on border security. 
Sec. 412. Policy statement on the Supplemental Nutrition Assistance Program. 
Sec. 413. Policy statement on agriculture. 
Sec. 414. Policy statement on bipartisan fiscal commission. 
Sec. 415. Policy statement on government deregulation. 
TITLE I—RECOMMENDED 
LEVELS AND AMOUNTS 
SEC. 101. RECOMMENDED LEVELS AND AMOUNTS. 
The following budgetary levels are appropriate for 
each of fiscal years 2025 through 2034: 
(1) FEDERAL REVENUES.—For purposes of the 
enforcement of this concurrent resolution: 
(A) The recommended levels of Federal 
revenues are as follows: 
Fiscal year 2025: $3,711,238,000,000. 
Fiscal year 2026: $4,013,146,000,000. 
Fiscal year 2027: $4,295,087,000,000. 
Fiscal year 2028: $4,429,736,000,000. 
Fiscal year 2029: $4,650,450,000,000. 
Fiscal year 2030: $4,859,791,000,000. 
Fiscal year 2031: $5,040,628,000,000. 
Fiscal year 2032: $5,212,522,000,000. 
Fiscal year 2033: $5,428,517,000,000. 
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Fiscal year 2034: $5,671,517,000,000. 
(B) The amounts by which the aggregate 
levels of Federal revenues should be changed 
are as follows: 
Fiscal year 2025: $0. 
Fiscal year 2026: $0. 
Fiscal year 2027: $0. 
Fiscal year 2028: $0. 
Fiscal year 2029: $0. 
Fiscal year 2030: $0. 
Fiscal year 2031: $0. 
Fiscal year 2032: $0. 
Fiscal year 2033: $0. 
Fiscal year 2034: $0. 
(2) NEW BUDGET AUTHORITY.—For purposes 
of the enforcement of this concurrent resolution, the 
appropriate levels of total new budget authority are 
as follows: 
Fiscal year 2025: $4,986,064,000,000. 
Fiscal year 2026: $5,059,066,000,000. 
Fiscal year 2027: $4,976,652,000,000. 
Fiscal year 2028: $5,025,086,000,000. 
Fiscal year 2029: $5,193,282,000,000. 
Fiscal year 2030: $5,282,574,000,000. 
Fiscal year 2031: $5,402,963,000,000. 
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Fiscal year 2032: $5,555,314,000,000. 
Fiscal year 2033: $5,665,969,000,000. 
Fiscal year 2034: $5,868,865,000,000. 
(3) BUDGET OUTLAYS.—For purposes of the 
enforcement of this concurrent resolution, the appro-
priate levels of total budget outlays are as follows: 
Fiscal year 2025: $5,112,497,000,000. 
Fiscal year 2026: $5,092,701,000,000. 
Fiscal year 2027: $5,054,300,000,000. 
Fiscal year 2028: $5,050,416,000,000. 
Fiscal year 2029: $5,171,200,000,000. 
Fiscal year 2030: $5,266,020,000,000. 
Fiscal year 2031: $5,375,556,000,000. 
Fiscal year 2032: $5,493,701,000,000. 
Fiscal year 2033: $5,644,312,000,000. 
Fiscal year 2034: $5,805,139,000,000. 
(4) DEFICITS (ON-BUDGET).—For purposes of 
the enforcement of this concurrent resolution, the 
amounts of the deficits (on-budget) are as follows: 
Fiscal year 2025: $1,401,259,000,000. 
Fiscal year 2026: $1,079,555,000,000. 
Fiscal year 2027: $759,213,000,000. 
Fiscal year 2028: $620,680,000,000. 
Fiscal year 2029: $520,750,000,000. 
Fiscal year 2030: $406,229,000,000. 
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Fiscal year 2031: $334,928,000,000. 
Fiscal year 2032: $281,179,000,000. 
Fiscal year 2033: $215,795,000,000. 
Fiscal year 2034: $133,622,000,000. 
(5) DEBT SUBJECT TO LIMIT.—The appropriate 
levels of debt subject to limit are as follows: 
Fiscal year 2025: $36,578,874,000,000. 
Fiscal year 2026: $37,947,874,000,000. 
Fiscal year 2027: $38,794,984,000,000. 
Fiscal year 2028: $39,451,216,000,000. 
Fiscal year 2029: $39,982,390,000,000. 
Fiscal year 2030: $40,237,559,000,000. 
Fiscal year 2031: $40,315,462,000,000. 
Fiscal year 2032: $40,253,143,000,000. 
Fiscal year 2033: $40,262,778,000,000. 
Fiscal year 2034: $40,307,468,000,000. 
(6) DEBT HELD BY THE PUBLIC.—The appro-
priate levels of debt held by the public are as follows: 
Fiscal year 2025: $29,475,133,000,000. 
Fiscal year 2026: $30,762,031,000,000. 
Fiscal year 2027: $31,708,264,000,000. 
Fiscal year 2028: $32,494,197,000,000. 
Fiscal year 2029: $33,120,708,000,000. 
Fiscal year 2030: $33,570,152,000,000. 
Fiscal year 2031: $33,890,747,000,000. 
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Fiscal year 2032: $34,124,543,000,000. 
Fiscal year 2033: $34,210,285,000,000. 
Fiscal year 2034: $34,148,229,000,000. 
SEC. 102. MAJOR FUNCTIONAL CATEGORIES. 
The Congress determines and declares that the ap-
propriate levels of new budget authority and outlays for 
fiscal years 2025 through 2034 for each major functional 
category are: 
(1) National Defense (050): 
Fiscal year 2025: 
(A) 
New 
budget 
authority, 
$921,721,000,000. 
(B) Outlays, $884,364,000,000. 
Fiscal year 2026: 
(A) 
New 
budget 
authority, 
$932,396,000,000. 
(B) Outlays, $910,761,000,000. 
Fiscal year 2027: 
(A) 
New 
budget 
authority, 
$940,663,000,000. 
(B) Outlays, $921,707,000,000. 
Fiscal year 2028: 
(A) 
New 
budget 
authority, 
$961,573,000,000. 
(B) Outlays, $943,589,000,000. 
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Fiscal year 2029: 
(A) 
New 
budget 
authority, 
$983,641,000,000. 
(B) Outlays, $951,460,000,000. 
Fiscal year 2030: 
(A) 
New 
budget 
authority, 
$1,006,040,000,000. 
(B) Outlays, $976,545,000,000. 
Fiscal year 2031: 
(A) 
New 
budget 
authority, 
$1,029,362,000,000. 
(B) Outlays, $997,102,000,000. 
Fiscal year 2032: 
(A) 
New 
budget 
authority, 
$1,054,875,000,000. 
(B) Outlays, $1,019,083,000,000. 
Fiscal year 2033: 
(A) 
New 
budget 
authority, 
$1,079,250,000,000. 
(B) Outlays, $1,052,673,000,000. 
Fiscal year 2034: 
(A) 
New 
budget 
authority, 
$1,104,032,000,000. 
(B) Outlays, $1,070,524,000,000. 
(2) International Affairs (150): 
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Fiscal year 2025: 
(A) 
New 
budget 
authority, 
$68,208,000,000. 
(B) Outlays, $64,005,000,000. 
Fiscal year 2026: 
(A) 
New 
budget 
authority, 
$66,682,000,000. 
(B) Outlays, $64,577,000,000. 
Fiscal year 2027: 
(A) 
New 
budget 
authority, 
$68,136,000,000. 
(B) Outlays, $66,371,000,000. 
Fiscal year 2028: 
(A) 
New 
budget 
authority, 
$69,496,000,000. 
(B) Outlays, $66,768,000,000. 
Fiscal year 2029: 
(A) 
New 
budget 
authority, 
$71,023,000,000. 
(B) Outlays, $67,975,000,000. 
Fiscal year 2030: 
(A) 
New 
budget 
authority, 
$72,524,000,000. 
(B) Outlays, $69,091,000,000. 
Fiscal year 2031: 
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(A) 
New 
budget 
authority, 
$74,102,000,000. 
(B) Outlays, $70,256,000,000. 
Fiscal year 2032: 
(A) 
New 
budget 
authority, 
$75,684,000,000. 
(B) Outlays, $71,549,000,000. 
Fiscal year 2033: 
(A) 
New 
budget 
authority, 
$77,311,000,000. 
(B) Outlays, $72,925,000,000. 
Fiscal year 2034: 
(A) 
New 
budget 
authority, 
$78,943,000,000. 
(B) Outlays, $74,282,000,000. 
(3) General Science, Space, and Technology 
(250): 
Fiscal year 2025: 
(A) 
New 
budget 
authority, 
$43,200,000,000. 
(B) Outlays, $43,115,000,000. 
Fiscal year 2026: 
(A) 
New 
budget 
authority, 
$44,128,000,000. 
(B) Outlays, $43,400,000,000. 
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Fiscal year 2027: 
(A) 
New 
budget 
authority, 
$45,060,000,000. 
(B) Outlays, $44,101,000,000. 
Fiscal year 2028: 
(A) 
New 
budget 
authority, 
$45,940,000,000. 
(B) Outlays, $44,793,000,000. 
Fiscal year 2029: 
(A) 
New 
budget 
authority, 
$46,908,000,000. 
(B) Outlays, $45,616,000,000. 
Fiscal year 2030: 
(A) 
New 
budget 
authority, 
$47,884,000,000. 
(B) Outlays, $46,447,000,000. 
Fiscal year 2031: 
(A) 
New 
budget 
authority, 
$48,902,000,000. 
(B) Outlays, $47,421,000,000. 
Fiscal year 2032: 
(A) 
New 
budget 
authority, 
$49,934,000,000. 
(B) Outlays, $48,419,000,000. 
Fiscal year 2033: 
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(A) 
New 
budget 
authority, 
$50,994,000,000. 
(B) Outlays, $49,440,000,000. 
Fiscal year 2034: 
(A) 
New 
budget 
authority, 
$52,077,000,000. 
(B) Outlays, $50,494,000,000. 
(4) Energy (270): 
Fiscal year 2025: 
(A) 
New 
budget 
authority, 
$35,389,000,000. 
(B) Outlays, $36,523,000,000. 
Fiscal year 2026: 
(A) 
New 
budget 
authority, 
$34,674,000,000. 
(B) Outlays, $42,653,000,000. 
Fiscal year 2027: 
(A) 
New 
budget 
authority, 
$36,933,000,000. 
(B) Outlays, $46,157,000,000. 
Fiscal year 2028: 
(A) 
New 
budget 
authority, 
$38,556,000,000. 
(B) Outlays, $46,228,000,000. 
Fiscal year 2029: 
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(A) 
New 
budget 
authority, 
$41,251,000,000. 
(B) Outlays, $46,567,000,000. 
Fiscal year 2030: 
(A) 
New 
budget 
authority, 
$39,167,000,000. 
(B) Outlays, $41,677,000,000. 
Fiscal year 2031: 
(A) 
New 
budget 
authority, 
$38,187,000,000. 
(B) Outlays, $38,829,000,000. 
Fiscal year 2032: 
(A) 
New 
budget 
authority, 
$40,455,000,000. 
(B) Outlays, $38,870,000,000. 
Fiscal year 2033: 
(A) 
New 
budget 
authority, 
$34,197,000,000. 
(B) Outlays, $32,942,000,000. 
Fiscal year 2034: 
(A) 
New 
budget 
authority, 
$28,817,000,000. 
(B) Outlays, $27,627,000,000. 
(5) Natural Resources and Environment (300): 
Fiscal year 2025: 
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(A) 
New 
budget 
authority, 
$77,574,000,000. 
(B) Outlays, $75,528,000,000. 
Fiscal year 2026: 
(A) 
New 
budget 
authority, 
$78,928,000,000. 
(B) Outlays, $83,476,000,000. 
Fiscal year 2027: 
(A) 
New 
budget 
authority, 
$72,892,000,000. 
(B) Outlays, $85,681,000,000. 
Fiscal year 2028: 
(A) 
New 
budget 
authority, 
$74,504,000,000. 
(B) Outlays, $82,547,000,000. 
Fiscal year 2029: 
(A) 
New 
budget 
authority, 
$76,163,000,000. 
(B) Outlays, $80,791,000,000. 
Fiscal year 2030: 
(A) 
New 
budget 
authority, 
$77,669,000,000. 
(B) Outlays, $78,987,000,000. 
Fiscal year 2031: 
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(A) 
New 
budget 
authority, 
$79,300,000,000. 
(B) Outlays, $78,179,000,000. 
Fiscal year 2032: 
(A) 
New 
budget 
authority, 
$81,511,000,000. 
(B) Outlays, $77,837,000,000. 
Fiscal year 2033: 
(A) 
New 
budget 
authority, 
$83,151,000,000. 
(B) Outlays, $79,572,000,000. 
Fiscal year 2034: 
(A) 
New 
budget 
authority, 
$85,124,000,000. 
(B) Outlays, $81,614,000,000. 
(6) Agriculture (350): 
Fiscal year 2025: 
(A) 
New 
budget 
authority, 
$26,808,000,000. 
(B) Outlays, $31,376,000,000. 
Fiscal year 2026: 
(A) 
New 
budget 
authority, 
$29,215,000,000. 
(B) Outlays, $31,145,000,000. 
Fiscal year 2027: 
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(A) 
New 
budget 
authority, 
$30,603,000,000. 
(B) Outlays, $31,660,000,000. 
Fiscal year 2028: 
(A) 
New 
budget 
authority, 
$31,783,000,000. 
(B) Outlays, $32,256,000,000. 
Fiscal year 2029: 
(A) 
New 
budget 
authority, 
$32,839,000,000. 
(B) Outlays, $32,136,000,000. 
Fiscal year 2030: 
(A) 
New 
budget 
authority, 
$31,053,000,000. 
(B) Outlays, $30,186,000,000. 
Fiscal year 2031: 
(A) 
New 
budget 
authority, 
$30,061,000,000. 
(B) Outlays, $29,158,000,000. 
Fiscal year 2032: 
(A) 
New 
budget 
authority, 
$30,501,000,000. 
(B) Outlays, $29,236,000,000. 
Fiscal year 2033: 
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(A) 
New 
budget 
authority, 
$30,740,000,000. 
(B) Outlays, $29,468,000,000. 
Fiscal year 2034: 
(A) 
New 
budget 
authority, 
$31,012,000,000. 
(B) Outlays, $30,072,000,000. 
(7) Commerce and Housing Credit (370): 
Fiscal year 2025: 
(A) 
New 
budget 
authority, 
$20,380,000,000. 
(B) Outlays, -$8,395,000,000. 
Fiscal year 2026: 
(A) 
New 
budget 
authority, 
$21,548,000,000. 
(B) Outlays, -$775,000,000. 
Fiscal year 2027: 
(A) 
New 
budget 
authority, 
$17,703,000,000. 
(B) Outlays, $8,833,000,000. 
Fiscal year 2028: 
(A) 
New 
budget 
authority, 
$16,578,000,000. 
(B) Outlays, -$40,398,000,000. 
Fiscal year 2029: 
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(A) 
New 
budget 
authority, 
$5,587,000,000. 
(B) Outlays, -$4,878,000,000. 
Fiscal year 2030: 
(A) 
New 
budget 
authority, 
$14,223,000,000. 
(B) Outlays, -$800,000,000. 
Fiscal year 2031: 
(A) 
New 
budget 
authority, 
$13,939,000,000. 
(B) Outlays, -$7,311,000,000. 
Fiscal year 2032: 
(A) 
New 
budget 
authority, 
$13,062,000,000. 
(B) Outlays, -$12,314,000,000. 
Fiscal year 2033: 
(A) 
New 
budget 
authority, 
$16,371,000,000. 
(B) Outlays, -$12,511,000,000. 
Fiscal year 2034: 
(A) 
New 
budget 
authority, 
$7,180,000,000. 
(B) Outlays, -$23,482,000,000. 
(8) Transportation (400): 
Fiscal year 2025: 
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(A) 
New 
budget 
authority, 
$166,053,000,000. 
(B) Outlays, $138,488,000,000. 
Fiscal year 2026: 
(A) 
New 
budget 
authority, 
$169,058,000,000. 
(B) Outlays, $147,698,000,000. 
Fiscal year 2027: 
(A) 
New 
budget 
authority, 
$135,073,000,000. 
(B) Outlays, $148,502,000,000. 
Fiscal year 2028: 
(A) 
New 
budget 
authority, 
$136,094,000,000. 
(B) Outlays, $142,404,000,000. 
Fiscal year 2029: 
(A) 
New 
budget 
authority, 
$137,929,000,000. 
(B) Outlays, $140,597,000,000. 
Fiscal year 2030: 
(A) 
New 
budget 
authority, 
$133,622,000,000. 
(B) Outlays, $136,092,000,000. 
Fiscal year 2031: 
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(A) 
New 
budget 
authority, 
$134,357,000,000. 
(B) Outlays, $135,658,000,000. 
Fiscal year 2032: 
(A) 
New 
budget 
authority, 
$142,608,000,000. 
(B) Outlays, $140,975,000,000. 
Fiscal year 2033: 
(A) 
New 
budget 
authority, 
$143,927,000,000. 
(B) Outlays, $141,238,000,000. 
Fiscal year 2034: 
(A) 
New 
budget 
authority, 
$146,505,000,000. 
(B) Outlays, $142,503,000,000. 
(9) Community and Regional Development 
(450): 
Fiscal year 2025: 
(A) 
New 
budget 
authority, 
$58,613,000,000. 
(B) Outlays, $58,931,000,000. 
Fiscal year 2026: 
(A) 
New 
budget 
authority, 
$59,691,000,000. 
(B) Outlays, $57,342,000,000. 
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Fiscal year 2027: 
(A) 
New 
budget 
authority, 
$60,896,000,000. 
(B) Outlays, $57,057,000,000. 
Fiscal year 2028: 
(A) 
New 
budget 
authority, 
$61,914,000,000. 
(B) Outlays, $58,273,000,000. 
Fiscal year 2029: 
(A) 
New 
budget 
authority, 
$63,176,000,000. 
(B) Outlays, $58,046,000,000. 
Fiscal year 2030: 
(A) 
New 
budget 
authority, 
$64,449,000,000. 
(B) Outlays, $58,344,000,000. 
Fiscal year 2031: 
(A) 
New 
budget 
authority, 
$65,638,000,000. 
(B) Outlays, $58,117,000,000. 
Fiscal year 2032: 
(A) 
New 
budget 
authority, 
$66,874,000,000. 
(B) Outlays, $58,168,000,000. 
Fiscal year 2033: 
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(A) 
New 
budget 
authority, 
$68,096,000,000. 
(B) Outlays, $58,121,000,000. 
Fiscal year 2034: 
(A) 
New 
budget 
authority, 
$69,477,000,000. 
(B) Outlays, $59,091,000,000. 
(10) Education, Training, Employment, and 
Social Services (500): 
Fiscal year 2025: 
(A) 
New 
budget 
authority, 
$107,932,000,000. 
(B) Outlays, $137,483,000,000. 
Fiscal year 2026: 
(A) 
New 
budget 
authority, 
$124,883,000,000. 
(B) Outlays, $136,134,000,000. 
Fiscal year 2027: 
(A) 
New 
budget 
authority, 
$124,064,000,000. 
(B) Outlays, $123,578,000,000. 
Fiscal year 2028: 
(A) 
New 
budget 
authority, 
$126,949,000,000. 
(B) Outlays, $125,533,000,000. 
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Fiscal year 2029: 
(A) 
New 
budget 
authority, 
$128,547,000,000. 
(B) Outlays, $127,556,000,000. 
Fiscal year 2030: 
(A) 
New 
budget 
authority, 
$130,445,000,000. 
(B) Outlays, $129,535,000,000. 
Fiscal year 2031: 
(A) 
New 
budget 
authority, 
$132,538,000,000. 
(B) Outlays, $131,488,000,000. 
Fiscal year 2032: 
(A) 
New 
budget 
authority, 
$135,010,000,000. 
(B) Outlays, $133,831,000,000. 
Fiscal year 2033: 
(A) 
New 
budget 
authority, 
$136,986,000,000. 
(B) Outlays, $135,933,000,000. 
Fiscal year 2034: 
(A) 
New 
budget 
authority, 
$139,741,000,000. 
(B) Outlays, $138,281,000,000. 
(11) Health (550): 
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Fiscal year 2025: 
(A) 
New 
budget 
authority, 
$776,720,000,000. 
(B) Outlays, $774,440,000,000. 
Fiscal year 2026: 
(A) 
New 
budget 
authority, 
$759,173,000,000. 
(B) Outlays, $756,843,000,000. 
Fiscal year 2027: 
(A) 
New 
budget 
authority, 
$716,149,000,000. 
(B) Outlays, $708,883,000,000. 
Fiscal year 2028: 
(A) 
New 
budget 
authority, 
$723,160,000,000. 
(B) Outlays, $713,466,000,000. 
Fiscal year 2029: 
(A) 
New 
budget 
authority, 
$752,616,000,000. 
(B) Outlays, $734,415,000,000. 
Fiscal year 2030: 
(A) 
New 
budget 
authority, 
$769,569,000,000. 
(B) Outlays, $751,140,000,000. 
Fiscal year 2031: 
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thority provided for such accounts for fiscal year 
2025 in bills or joint resolutions making appropria-
tions for fiscal year 2025. 
(c) DEFINITION.—The term ‘‘advance appropriation’’ 
means any new discretionary budget authority provided in 
a general appropriation bill or bill or joint resolution con-
tinuing appropriations for fiscal year 2025, or any amend-
ment thereto or conference report thereon, that first be-
comes available following fiscal year 2025. 
SEC. 204. ESTIMATES OF DEBT SERVICE COSTS. 
In the House of Representatives, the chair of the 
Committee on the Budget may direct the Congressional 
Budget Office to include, in any estimate of a bill or joint 
resolution prepared under section 402 of the Congres-
sional Budget Act of 1974, an estimate of any change in 
debt service costs resulting from carrying out such bill or 
resolution. Any estimate of debt service costs provided 
under this section shall be advisory and shall not be used 
for purposes of enforcement of such Act, the rules of the 
House of Representatives, or this concurrent resolution. 
This section shall not apply to authorizations of programs 
funded by discretionary spending or to appropriation bills 
or joint resolutions, but shall apply to changes in the au-
thorization level of appropriated entitlements. 
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SEC. 205. FAIR-VALUE CREDIT ESTIMATES. 
(a) FAIR-VALUE ESTIMATES.—Upon the request of 
chair of the Committee on the Budget of the House of 
Representatives, any estimate prepared by the Director of 
the Congressional Budget Office for a measure that estab-
lishes or modifies any program providing loans or loan 
guarantees shall, as a supplement to such estimate and 
to the extent practicable, provide a fair-value estimate of 
such loan or loan guarantee program. 
(b) 
BASELINE
ESTIMATES.—The 
Congressional 
Budget Office shall include estimates of loan and loan 
guarantee programs, on a fair-value and credit reform 
basis, as practicable, in its The Budget and Economic Out-
look. 
(c) ENFORCEMENT IN THE HOUSE OF REPRESENTA-
TIVES.—If the Director of the Congressional Budget Of-
fice provides an estimate pursuant to subsection (a), the 
chair of the Committee on the Budget of the House of 
Representatives may use such estimate to determine com-
pliance with the Congressional Budget Act of 1974 and 
other budget enforcement requirements. 
SEC. 206. ADJUSTMENTS FOR IMPROVED CONTROL OF 
BUDGETARY RESOURCES. 
(a) ADJUSTMENTS OF DISCRETIONARY AND DIRECT 
SPENDING LEVELS.—In the House of Representatives, if 
a committee (other than the Committee on Appropria-
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tions) reports a bill or joint resolution, or an amendment 
thereto is offered or conference report thereon is sub-
mitted, providing for a decrease in direct spending (budget 
authority and outlays flowing therefrom) for any fiscal 
year and also provides for an authorization of appropria-
tions for the same purpose, upon the enactment of such 
measure, the chair of the Committee on the Budget may 
decrease the allocation to the applicable authorizing com-
mittee that reports such measure and increase the alloca-
tion of discretionary spending (budget authority and out-
lays flowing therefrom) to the Committee on Appropria-
tions for fiscal year 2025 by an amount equal to the new 
budget authority (and outlays flowing therefrom) provided 
for in a bill or joint resolution making appropriations for 
the same purpose. 
(b) DETERMINATIONS.—In the House of Representa-
tives, for purposes of enforcing this concurrent resolution, 
the allocations and aggregate levels of new budget author-
ity, outlays, direct spending, revenues, deficits, and sur-
pluses for fiscal year 2025 and the total of fiscal years 
2025 through 2034 shall be determined on the basis of 
estimates made by the chair of the Committee on the 
Budget and such chair may adjust the applicable levels 
in this concurrent resolution. 
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(2) expanding American energy production by 
eliminating excessive burdens and barriers placed on 
energy producers; 
(3) lowering taxes that discourage work, sav-
ings, and investment; 
(4) deregulating the economy and enacting re-
forms to restrict future bureaucratic red tape; 
(5) eliminating barriers to work that keep 
Americans on the sidelines; 
(6) expanding free and fair trade; and 
(7) restructuring health care to be focused on 
patients and cures rather than administrative con-
trol. 
SEC. 402. POLICY STATEMENT ON UNAUTHORIZED APPRO-
PRIATIONS. 
(a) FINDINGS.—The House finds the following: 
(1) Article I of the Constitution vests all legisla-
tive power in Congress. 
(2) Central to Congress’s legislative powers is 
the authorization of appropriations necessary to exe-
cute the laws that establish Federal agencies and 
programs and impose obligations. 
(3) Clause 2 of rule XXI of the Rules of the 
House of Representatives prohibits the consideration 
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