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any bill, joint resolution, or amendment that provides new 
budget authority for a fiscal year or to any conference re-
port on any such bill or resolution if— 
(1) the enactment of that bill or resolution; 
(2) the adoption and enactment of that amend-
ment; or 
(3) the enactment of that bill or resolution in 
the form recommended in that conference report, 
would not cause the 302(a) allocation to the Committee 
on Appropriations for fiscal year 2018 to be exceeded. 
SEC. 326. EXERCISE OF RULEMAKING POWERS. 
The House of Representatives adopts the provisions 
of this title and title II— 
(1) as an exercise of the rulemaking power of 
the House of Representatives, and as such they shall 
be considered as part of the rules of the House of 
Representatives, and such rules shall supersede 
other rules only to the extent that they are incon-
sistent with such other rules; and 
(2) with full recognition of the constitutional 
right of the House of Representatives to change 
those rules at any time, in the same manner, and to 
the same extent as is the case of any other rule of 
the House of Representatives. 
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TITLE IV—RESERVE FUNDS IN 
THE HOUSE OF REPRESENTA-
TIVES 
SEC. 401. RESERVE FUND FOR COMMERCIALIZATION OF 
AIR TRAFFIC CONTROL. 
(a) IN GENERAL.—In the House of Representatives, 
the chair of the Committee on the Budget may adjust, 
at a time the chair deems appropriate, the section 302(a) 
allocation to the Committee on Transportation and Infra-
structure and other applicable committees of the House 
of Representatives, aggregates, and other appropriate lev-
els established in this concurrent resolution for a bill or 
joint resolution, or amendment thereto or conference re-
port thereon, that commercializes the operations of the air 
traffic control system if such measure reduces the discre-
tionary spending limits in section 251(c) of the Balanced 
Budget and Emergency Deficit Control Act of 1985 by 
the amount that would otherwise be appropriated to the 
Federal Aviation Administration for air traffic control. 
Adjustments to the section 302(a) allocation to the Com-
mittee on Appropriations, consistent with the adjustments 
to the discretionary spending limits under such section 
251(c), shall only be made upon enactment of such meas-
ure. 
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(b) DEFINITION.—For purposes of this section, a 
measure that commercializes the operations of the air traf-
fic control system shall be a measure that establishes a 
Federally-chartered, not-for-profit corporation that— 
(1) is authorized to provide air traffic control 
services within the United States airspace; 
(2) sets user fees to finance its operations; 
(3) may borrow from private capital markets to 
finance improvements; 
(4) is governed by a board of directors com-
posed of a CEO and directors whose fiduciary duty 
is to the entity; and 
(5) becomes the employer of those employees di-
rectly connected to providing air traffic control serv-
ices and who the Secretary transfers from the Fed-
eral Government. 
SEC. 402. RESERVE FUND FOR INVESTMENTS IN NATIONAL 
INFRASTRUCTURE. 
In the House of Representatives, the chair of the 
Committee on the Budget may adjust the allocations, ag-
gregates, and other appropriate levels in this concurrent 
resolution for any bill or joint resolution, or amendment 
thereto or conference report thereon, that invests in na-
tional infrastructure to the extent that such measure is 
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deficit neutral for the total of fiscal years 2018 through 
2027. 
SEC. 403. RESERVE FUND FOR COMPREHENSIVE TAX RE-
FORM. 
In the House of Representatives, if the Committee 
on Ways and Means reports a bill or joint resolution that 
provides for comprehensive tax reform, the chair of the 
Committee on the Budget may adjust the allocations, ag-
gregates, and other appropriate budgetary levels in this 
concurrent resolution for the budgetary effects of any such 
bill or joint resolution, or amendment thereto or con-
ference report thereon, if such measure would not increase 
the deficit for the total of fiscal years 2018 through 2027. 
SEC. 404. RESERVE FUND FOR THE STATE CHILDREN’S 
HEALTH INSURANCE PROGRAM. 
In the House of Representatives, the chair of the 
Committee on the Budget may adjust the allocations, 
budget aggregates and other appropriate levels in this con-
current resolution for the budgetary effects of any bill or 
joint resolution, or amendment thereto or conference re-
port thereon, that extends the State Children’s Health In-
surance Program allotments, if such measure would not 
increase the deficit for the total of fiscal years 2018 
through 2027. 
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SEC. 405. RESERVE FUND FOR THE REPEAL OR REPLACE-
MENT OF PRESIDENT OBAMA’S HEALTH CARE 
LAWS. 
In the House of Representatives, the chair of the 
Committee on the Budget may revise the allocations, ag-
gregates, and other appropriate budgetary levels in this 
concurrent resolution for the budgetary effects of any bill 
or joint resolution, or amendment thereto or conference 
report thereon, that repeals or replaces any provision of 
the Patient Protection and Affordable Care Act or title 
I or subtitle B of title II of the Health Care and Education 
Reconciliation Act of 2010 by the amount of budget au-
thority and outlays flowing therefrom provided by such 
measure for such purpose. 
TITLE V—POLICY STATEMENTS 
IN 
THE 
HOUSE 
OF 
REP-
RESENTATIVES 
SEC. 501. POLICY STATEMENT ON A BALANCED BUDGET 
AMENDMENT. 
(a) FINDINGS.—The House finds the following: 
(1) In fiscal year 2017, the Federal Govern-
ment will collect approximately $3.3 trillion in taxes, 
but spend more than $4.0 trillion to maintain its op-
erations, borrowing 15 cents of every Federal dollar 
spent. 
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(2) At the end of fiscal year 2016, the national 
debt of the United States was more than $19.5 tril-
lion. 
(3) A majority of States have petitioned the 
Federal Government to hold a constitutional conven-
tion to adopt a balanced budget amendment to the 
Constitution. 
(4) As of the spring of 2016, 46 States have re-
quirements to annually balance their respective 
budgets. 
(5) Numerous balanced budget amendment pro-
posals have been introduced on a bipartisan basis in 
the House. Currently in the 115th Congress, 8 joint 
resolutions proposing a balanced budget amendment 
have been introduced. 
(6) In the 111th Congress, the House consid-
ered H. J. Res. 2, sponsored by Representative Rob-
ert W. Goodlatte of Virginia. Although it received 
262 aye votes, it did not receive the two-thirds re-
quired for passage. 
(7) In 1995, a balanced budget amendment to 
the Constitution passed the House with bipartisan 
support, but failed to pass by one vote in the United 
States Senate. 
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(8) Five States, Georgia, Alaska, Mississippi, 
North Dakota, and Arizona, have agreed to the 
Compact for a Balanced Budget, which seeks to 
amend the Constitution to require a balanced budget 
through an Article V convention by April 12, 2021. 
(b) POLICY ON A BALANCED BUDGET CONSTITU-
TIONAL AMENDMENT.—It is the policy of this concurrent 
resolution that the House should propose a balanced budg-
et constitutional amendment for ratification by the States. 
SEC. 502. POLICY STATEMENT ON BUDGET PROCESS RE-
FORM. 
It is the policy of this concurrent resolution that the 
House should enact legislation that reforms the congres-
sional budget process to— 
(1) reassert congressional control over the 
budget process by reorienting the Views and Esti-
mates that committees submit to the Committee on 
the Budget, as required under 301(d) of the Con-
gressional Budget Act of 1974, to emphasize con-
gressional rather than executive branch priorities; 
(2) strengthen enforcement of budgetary rules 
and requirements by— 
(A) enabling Members of the House of 
Representatives to enforce budget requirements 
in a manner that does not jeopardize the ability 
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of the majority to work its will on legislation; 
and 
(B) permitting members of Congress to de-
termine whether emergency-designated appro-
priations are for unanticipated situations that 
pose a threat to life, property, or national secu-
rity; 
(3) increase control over the costs of Federal 
activities by— 
(A) incorporating debt service costs into 
cost estimates prepared by the Congressional 
Budget Office; 
(B) establishing a process for setting limits 
on the amount of debt incurred by the Federal 
Government from the private sector as a share 
of the economy that requires congressional ac-
tion if such limits deviate from those previously 
determined by Congress and the President; 
(C) transitioning to fair-value accounting; 
(D) budgeting for Federal insurance pro-
grams on an accrual basis; and 
(E) developing and implementing a regu-
latory budget as provided in section 503; 
(4) achieve greater control over mandatory 
spending by reforming reconciliation procedures and 
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requirements to ensure they are transparent, objec-
tively applied, and maximize opportunities for deficit 
reduction; 
(5) increase the efficiency of the congressional 
budget process by— 
(A) realigning the budget cycle with the 
calendar year and the congressional calendar; 
(B) simplifying the procedures by which 
the Committee on Appropriations adjusts its 
section 302(b) suballocations to ensure they are 
consistent with the Committee’s overall section 
302(a) allocation; and 
(C) increasing congressional accountability 
for budget decisions; 
(6) improve the transparency of the Federal 
Government’s obligations by— 
(A) modifying the content of the budget 
resolution to reflect the budgetary decisions 
that Congress actually makes and enforces; 
(B) requiring the Comptroller General to 
periodically report to Congress on the consoli-
dated financial report of the Federal Govern-
ment; and 
(C) restructuring the baseline, as set forth 
in section 257 of the Balanced Budget and 
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Emergency Deficit Control Act of 1985, to 
treat mandatory spending and revenue on a 
comparable basis; and 
(7) achieve control over long-term budget obli-
gations by— 
(A) establishing declining limits on the 
amount of debt incurred by the Federal Govern-
ment from the private sector as a share of the 
economy that requires congressional action if 
such limits deviate from those previously deter-
mined by Congress and the President; and 
(B) codifying limits on the amount legisla-
tion can increase the deficit beyond the ten fis-
cal-year period of the concurrent resolution on 
the budget. 
SEC. 503. POLICY STATEMENT ON FEDERAL REGULATORY 
BUDGETING AND REFORM. 
(a) FINDINGS.—The House finds the following: 
(1) Federal regulations are estimated to cost 
$1.9 trillion per year or approximately $15,000 per 
household. Such costs exceed 10 percent of the 
Gross Domestic Product of the United States. 
(2) Excessive Federal regulation— 
(A) retards job creation, investment, 
wages, competition, and economic growth, slow-
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ing the Nation’s recovery from economic reces-
sion and harming American households; 
(B) operates as a regressive tax on poor 
and lower-income households; 
(C) displaces workers into long-term unem-
ployment or lower-paying jobs; 
(D) adversely affects small businesses, the 
primary source of new jobs; and 
(E) impedes the economic growth nec-
essary to provide sufficient funds to meet vital 
commitments and reduce the Federal debt. 
(3) Federal agencies do not systematically ana-
lyze both the costs and benefits of new regulations 
or identify and eliminate, minimize, or mitigate ex-
cess regulatory costs through post-implementation 
assessments of their regulations. 
(4) Agencies too often impose costly regulations 
without relying on sound science, through the use of 
agency guidance, judicial consent decrees, and settle-
ment agreements, and through the abuse of high in-
terim compliance costs imposed on regulated entities 
that bring legal challenges against newly promul-
gated regulations. 
(5) Congress lacks an effective mechanism to 
manage the level of new Federal regulatory costs im-
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posed each year. Other nations, meanwhile, have 
successfully implemented the use of regulatory budg-
eting to control excess regulation and regulatory 
costs. 
(6) Significant steps have been taken already by 
President Trump and the 115th Congress, including 
the imposition of a regulatory pay-as-you-go regimen 
for new and revised regulations by the Trump Ad-
ministration and the enactment of 14 measures 
under the Congressional Review Act that repealed 
regulations promulgated in the final 60 legislative 
days of the 114th Congress. 
(b) POLICY ON FEDERAL REGULATORY BUDGETING 
AND REFORM.—It is the policy of this concurrent resolu-
tion that the House should, in consultation with the pub-
lic, consider legislation that— 
(1) requires the President’s budget submission 
to include an analysis of the costs of complying with 
current and proposed regulations; 
(2) builds the institutional capacity of the Con-
gressional Budget Office to develop a regulatory 
baseline and estimate regulatory costs; 
(3) codifies the Trump Administration’s regu-
latory pay-as-you-go requirements, which require 
agencies to offset the costs of new or revised regula-
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tions with the repeal or modification of existing reg-
ulations; and 
(4) requires Federal agencies to give notice and 
allow for comments on proposed guidance docu-
ments. 
SEC. 504. 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 the legislative powers of Congress 
is the authorization of appropriations necessary to 
execute the laws that establish agencies and pro-
grams and impose obligations. 
(3) Clause 2 of rule XXI of the Rules of the 
House of Representatives prohibits the consideration 
of appropriations measures that provide appropria-
tions for unauthorized programs. 
(4) In fiscal year 2016, more than $310 billion 
was appropriated for unauthorized programs, span-
ning 256 separate laws. 
(5) Agencies such as the Department of State 
have not been authorized for 15 years. 
(6) The House adopted a requirement for the 
115th Congress, as part of H. Res. 5, that requires 
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each standing committee of the House to adopt an 
authorization and oversight plan that enumerates all 
unauthorized programs and agencies within its juris-
diction that received funding in the prior year, 
among other oversight requirements. 
(b) POLICY ON UNAUTHORIZED APPROPRIATIONS.— 
In the House, it is the policy of this concurrent resolution 
that legislation should be enacted that— 
(1) establishes a schedule for reauthorizing all 
Federal programs on a staggered five-year basis to-
gether with declining spending targets for each year 
a program is not reauthorized according to such 
schedule; 
(2) prohibits the consideration of appropriations 
measures in the House that provide appropriations 
in excess of spending targets specified for such 
measures and ensures that such rule should be 
strictly enforced; and 
(3) limits funding for non-defense or non-secu-
rity-related Federal programs that are not reauthor-
ized according the schedule described in paragraph 
(1). 
SEC. 505. POLICY STATEMENT ON FEDERAL ACCOUNTING. 
(a) FINDINGS.—The House finds the following: 
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(1) Current accounting methods fail to capture 
and present in a compelling manner the full scope 
of the Federal Government and its fiscal condition. 
(2) Most fiscal analyses produced by the Con-
gressional Budget Office (CBO) are conducted over 
a 10-fiscal year period. The use of generational ac-
counting or a longer time horizon would provide a 
more complete picture of the Federal Government’s 
fiscal condition. 
(3) The Federal budget currently accounts for 
most programs on a cash accounting basis, which 
records revenue and expenses when cash is actually 
paid or received. However, it accounts for loan and 
loan guarantee programs on an accrual basis, which 
records revenue when earned and expenses when in-
curred. 
(4) The Government Accountability Office has 
advised that accrual accounting may be more accu-
rate than cash accounting in estimating the Federal 
Government’s liabilities for insurance and other pro-
grams. 
(5) Accrual accounting under the Federal Cred-
it Reform Act of 1990 (FCRA) understates the risk 
and thus the true cost of some Federal programs, 
including loans and loan guarantees. 
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(6) Fair-value accounting better reflects the 
risk associated with Federal loan and loan guarantee 
programs by using a market based discount rate. 
CBO, for example, uses fair-value accounting to 
measure the cost of the Federal National Mortgage 
Association (Fannie Mae) and the Federal Home 
Loan Mortgage Corporation (Freddie Mac). 
(7) In comparing fair-value accounting to 
FCRA, CBO has concluded that ‘‘adopting a fair- 
value approach would provide a more comprehensive 
way to measure the costs of Federal credit programs 
and would permit more level comparisons between 
those costs and the costs of other forms of Federal 
assistance’’. 
(8) The Department of the Treasury, when re-
porting the principal financial statements of the 
United States entitled Balance Sheet and Statement 
of Operations and Changes in Net Position, may omit 
some of the largest projected Federal Government 
expenses, including social insurance programs. The 
projected expenses of these programs are reported 
by the Department in its Statements of Social Insur-
ance and Changes in Social Insurance Amounts. 
(9) This concurrent resolution directs CBO to 
estimate the costs of Federal credit programs on a 
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105 
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reforms necessary to achieve a positive 75-year actu-
arial balance and a positive annual balance in the 
75th year, and any recommendations provided to the 
President must be agreed upon by both Public 
Trustees of the Board of Trustees; 
(2) not later than December 1 of the same cal-
endar year in which the Board of Trustees submit 
its recommendations, the President should promptly 
submit implementing legislation to both Houses of 
Congress including recommendations necessary to 
achieve a positive 75-year actuarial balance and a 
positive annual balance in the 75th year, and the 
majority leader of the Senate and the majority lead-
er of the House should introduce the President’s leg-
islation upon receipt; 
(3) within 60 days of the President submitting 
legislation, the committees of jurisdiction should re-
port a bill, which the House or Senate should con-
sider under expedited procedures; and 
(4) legislation submitted by the President 
should— 
(A) protect those in or near retirement; 
(B) preserve the safety net for those who 
count on Social Security the most, including 
those with disabilities and survivors; 
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