{"bills":[{"photos":{"featured":"https://assets.causes.com/bill/photo/hconres27-114/featured_establishing-the-budget-for-the-united-states-government-for-fiscal-year-2016-and-setting-forth-appropriate-bud-1454548697.jpg","featured_large":"https://assets.causes.com/bill/photo/hconres27-114/featured_large_establishing-the-budget-for-the-united-states-government-for-fiscal-year-2016-and-setting-forth-appropriate-bud-1454548697.jpg","shareable":"https://n.causes.com/share-images/bills/hconres27-114.png"},"introduced_on":"2015-03-20","title_override":"The Big 10-Year Proposal To Balance The U.S. Budget","summary_override":"

This resolution would establish the budget for the 2016 fiscal year, and set budgetary level for fiscal years 2017 through 2025. It would provide relevant House committees with spending reduction targets over the 2016-2025 period.

For those of you who don’t want to go through the nitty gritty funding levels of this budget, here is a brief primer: This bill reforms the tax code through lower personal income tax rates, fewer loopholes, and lower corporate tax rates. It would repeal the Affordable Care Act in its entirety — including the Medicaid expansion — effectively starting the health care reform process over. It also plans reforms in Medicare and Social Security so they remain solvent for future generations. This budget would increase spending on national defense over the current baseline after 2016, and allots more funding for overseas contingency operations than the President’s request for 2016.

It would also set \"recommended\" levels for revenues for each fiscal year; establish a budget authority (i.e. authorized spending limits), project actual spending levels (a.k.a. outlays, or the money paid out by the U.S. Treasury), and estimate deficits and the amount of debt held by the public.

Fiscal Year 2016

Revenue levels: $2.666 trillion

Budget authority: $2.934 trillion

Actual spending: $3.009 trillion

On-budget deficit: -$342.278 billion

Publicly-held debt: $13.838 trillion

Fiscal Year 2017

Revenue levels: $2.763 trillion

Budget authority: $2.873 trillion

Actual spending: $2.893 trillion

On-budget deficit: -$130.555 billion

Publicly-held debt: $14.040 trillion

Fiscal Year 2018

Revenue levels: $2.858 trillion

Budget authority: $2.944 trillion

Actual spending: $2.297 trillion

On-budget deficit: -$68.909 billion

Publicly-held debt: $14.145 trillion

Fiscal Year 2019

Revenue levels: $2.974 trillion

Budget authority: $3.091 trillion

Actual spending: $3.062 trillion

On-budget deficit: -$87.984 billion

Publicly-held debt: $14.338 trillion

Fiscal Year 2020

Revenue levels: $3.099 trillion

Budget authority: $3.248 trillion

Actual spending: $3.205 trillion

On-budget deficit: -$106.079 billion

Publicly-held debt: $14.560 trillion

Fiscal Year 2021

Revenue levels: $3.241 trillion

Budget authority: $3.327 trillion

Actual spending: $3.298 trillion

On-budget deficit: -$56.944 billion

Publicly-held debt: $14.742 trillion

Fiscal Year 2022

Revenue levels: $3.388 trillion

Budget authority: $3.462 trillion

Actual spending: $3.452 trillion

On-budget deficit: -$63.775 billion

Publicly-held debt: $15.128 trillion

Fiscal Year 2023

Revenue levels: $3.550 trillion

Budget authority: $3.529 trillion

Actual spending: $3.497 trillion

On-budget deficit: $52.477 billion (surplus)

Publicly-held debt: $15.300 trillion

Fiscal Year 2024

Revenue levels: $3.722 trillion

Budget authority: $3.586 trillion

Actual spending: $3.538 trillion

On-budget deficit: $183.746 billion (surplus)

Publicly-held debt: $15.162 trillion

Fiscal Year 2025

Revenue levels: $3.905 trillion

Budget authority: $3.715 trillion

Actual spending: $3.685 trillion

On-budget deficit: $220.418 billion (surplus)

Publicly-held debt: $15.235 trillion

","official_title":"Establishing the budget for the United States Government for fiscal year 2016 and setting forth appropriate budgetary levels for fiscal years 2017 through 2025.","short_title":null,"popular_title":null,"short_summary":"Establishes the congressional budget for the federal government for FY2016 and sets forth budgetary levels for FY2017-FY2025.\n\nTITLE I--RECOMMENDED LEVELS AND AMOUNTS\n\n(Sec. 101) Recommends levels and amounts for FY2016-FY2025 for federal revenues, new budget authority, budget outlays, deficits (on-budget), debt subject to limit, and debt held by the public.\n\n(Sec. 102) Recommends levels of new budget authority and outlays for FY2016-FY2025 for each major functional category, including:\n\n National Defense; International Affairs; General Science, Space, and Technology; Energy; Natural Resources and Environment; Agriculture; Commerce and Housing Credit; Transportation; Community and Regional Development; Education, Training, Employment, and Social Services; Health; Medicare; Income Security; Social Security; Veterans Benefits and Services; Administration of Justice; General Government; Net Interest; Allowances; Government-wide Savings; Undistributed Offsetting Receipts; Overseas Contingen...","summarized":true,"cost":null,"cost_commentary":"The CBO has not yet analyzed the specific policies that compose this budget, but has analyzed this proposal and its projected impact on deficits. It also has analyzed the federal debt held by the public compared to the CBO’s Extended Baseline (basically current law), its Extended Alternative Baseline (which incorporates tax provisions that are due to expire), and scenarios where deficits are cut by $2 trillion and $4 trillion over a 10-year period. This budget proposal is the only scenario that the CBO found would yield a surplus in 2025. It also found the amount of federal debt held by the public would be 55 percent in 2025, compared to 79 percent under the Extended Baseline and 88 percent under the Extended Alternative Baseline.","impact":"Everyone in the U.S., and all aspects of the federal government. ","argument_for":"The federal government has been on an unsustainable spending binge for decades, and this budget would allow the U.S. to rein in spending and finally balance the budget. 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The Big 10-Year Proposal To Balance The U.S. Budget