Vote Smart's Synopsis:

Vote to adopt a conference report on a concurrent resolution that sets budget outlay levels from 2007 through 2012.

Highlights:

• Appropriates the following:
• $7.48 trillion for Social Security, including $2.95 trillion for Federal Old-Age and Survivors Insurance Trust Fund and Federal Disability Insurance Trust Fund;
• $3.22 trillion for national defense;
• $2.59 trillion for Medicare;
• $2.36 trillion for Income Security;
• $1.90 trillion for health;
• $572.31 billion for education, training, employment, and social services;
• $121.19 billion for agriculture;
• $9.84 billion for energy.

• Establishes deficit-neutral reserve funds for SCHIP legislation, veterans and the wounded, tax relief, Medicare improvements, health care "quality, effectiveness, efficiency, and transparency", higher education, the farm bill, energy legislation, immigration reform in the Senate, Medicaid, and other purposes.

• States that the Senate cannot consider bills that would increase the budget deficit, and cannot use prior budget surplus or the Pay-As-You-Go ledger (Sec. 201).

• Requires that by Sepetember 10, 2007 the House Committee on Education and Labor to report to the House changes in laws that will reduce the deficit by $750 million for the time period of fiscal years 2007 through 2012 (Sec. 601).

• Requires that by September 10, 2007, the Senate Committee on Health, Education, Labor, and Pensions will report changes in laws to reduce the deficit by $750 million for the time period of fiscal years 2007 through 2012 (Sec. 602).

Full Bill Text

Vote Smart's Synopsis:

Vote to adopt a conference report on a concurrent resolution that sets budget outlay levels from 2007 through 2012.

Highlights:

• Appropriates the following:
• $7.48 trillion for Social Security, including $2.95 trillion for Federal Old-Age and Survivors Insurance Trust Fund and Federal Disability Insurance Trust Fund;
• $3.22 trillion for national defense;
• $2.59 trillion for Medicare;
• $2.36 trillion for Income Security;
• $1.90 trillion for health;
• $572.31 billion for education, training, employment, and social services;
• $121.19 billion for agriculture;
• $9.84 billion for energy.

• Establishes deficit-neutral reserve funds for SCHIP legislation, veterans and the wounded, tax relief, Medicare improvements, health care "quality, effectiveness, efficiency, and transparency", higher education, the farm bill, energy legislation, immigration reform in the Senate, Medicaid, and other purposes.

• States that the Senate cannot consider bills that would increase the budget deficit, and cannot use prior budget surplus or the Pay-As-You-Go ledger (Sec. 201).

• Requires that by Sepetember 10, 2007 the House Committee on Education and Labor to report to the House changes in laws that will reduce the deficit by $750 million for the time period of fiscal years 2007 through 2012 (Sec. 601).

• Requires that by September 10, 2007, the Senate Committee on Health, Education, Labor, and Pensions will report changes in laws to reduce the deficit by $750 million for the time period of fiscal years 2007 through 2012 (Sec. 602).

Full Bill Text

Vote Smart's Synopsis:

Vote to adopt the concurrent resolution that would revise the U.S Government budget for fiscal year 2007, and establish the fiscal year 2008 congressional budget for the United States Government, and set appropriate budgetary levels for fiscal year 2009 through 2012.

Highlights:

• Appropriates the following:
• $3.21 trillion for National Defense;
• $1.96 billion for International Affairs;
• $9.25 billion for Energy.;
• $120.76 billion for Agriculture;
• $567.55 billion for Education, Training, Employment and Social Services;
• $1.90 trillion for Health;
• $2.59 trillion for Medicare;
• $2.36 trillion for Income Security;
• $140.86 billion for Social Security; and
• $520.51 billion for Veterans' Benefits and Services.

• Assumes that certain tax cuts enacted in 2001 and 2003 will expire in 2010 as planned.

• Authorizes certain reserve funds for:
• The State Children's Health Insurance Program;
• Alternative minimum tax revision;
• Middle-income tax relief;
• Agriculture;
• Higher education;
• Medicare improvements;
• Creation of long-term energy alternatives;
• Affordable housing;
• Equitable benefits for Filipino veterans of World War II;
• Reauthorization of the Secure Rural School and Community Self-Determination Act;
• Receipts from Bonneville Power Administration; and
• Transition Medical Assistance program extension.

• Provides for adjustments to discretionary spending limits, budgetary aggregates, and allocations for (Sec. 401):
• Continuing disability reviews and Supplemental Security Income (SSI) redeterminations by the Social Security Administration (SSA);
• Internal Revenue Service (IRS) tax compliance;
• The health care fraud and abuse control program; and
• Unemployment insurance improper payments reviews (Sec. 301).

• Expresses the policy of the resolution to support extension of middle income tax relief and enhanced economic equity through policies such as:
• Extension of the child tax credit;
• Extension of tax reductions;
• Extension of the 10 percent individual income tax bracket;
• Elimination of estate taxes on all but a minute fraction of estates by reforming and substantially increasing the unified tax credit;
• Extension of the research and experimentation tax credit;
• Extension of the deduction for State and local sales taxes;
• Extension of the deduction for small business expensing; and
• Enactment of a tax credit for school construction bonds.

• Expresses the sense of the House that Congress should extend PAYGO in its original form in the Budget Enforcement Act of 1990 in order to reduce the deficit (Sec. 508).

Full Bill Text

Vote Smart's Synopsis:

Vote to pass a resolution that sets the budget outlays for 2007 through 2012 at $15.26 trillion, estimates the federal revenue for 2007 through 2012 at $13.04 trillion and sets a discretionary funding limit for 2007 and 2008 at $2.05 trillion.

Highlights:

• Appropriates the following:
• $2.95 trillion for Federal Old-Age and Survivors Insurance Trust Fund and Federal Disability Insurance Trust Fund;
• $3.49 trillion for national defense;
• $2.58 trillion for Medicare;
• $2.36 trillion for Income Security;
• $1.94 trillion for health;
• $570.24 billion for education, training, employment and social services;
• $209.31 billion for natural resources and environment;
• $125.46 billion for agriculture;
• $31.83 billion for administrative Social Security expenses; and
• $9.88 billion for energy.

• States that the Senate cannot consider bills that would increase the budget deficit, and cannot use prior budget surplus for the Pay-As-You-Go ledger (Sec. 201).

• Makes it a point of order that the Senate cannot consider any bills that would increase the budget deficit before resolving the 75-year solvency of the Social Security Old-Age, Survivors, and Disability Insurance Trust Funds (Sec. 209).

• Indicates that the Senate cannot consider any bills to increase the Federal income tax rate without a three-fifths majority vote to suspend this section of the resolution (Sec. 210).

• Makes it a priority for the Senate to enact bills relating to the reauthorization of the State Children's Health Insurance Program (SCHIP) and allows for the consideration of a tobacco tax increase to offset costs of SCHIP (Sec. 301).

• Creates a deficit-neutral reserve fund for tax relief, higher education, Medicare, health care reform, child care, immigration reform, extension of energy tax incentives, etc. (Secs. 301-343).

• Creates a reserve fund for the improvement of the health care system (Sec. 341).

Full Bill Text
Full Bill Text

Full Bill Text