Vote Smart's Synopsis:

Vote to pass a concurrent resolution that recommends that for fiscal years 2008, 2009, 2010, 2011, 2012, and 2013, the total federal income be $14 trillion, the total new budget authority be $15.95 trillion, and the total budget expenditure be $15.95 trillion.

Highlights:

• Recommends the following new budget authorities for specific departments in fiscal years 2008, 2009, 2010, 2011, 2012, and 2013:
• $3.38 trillion for National Defense;
• $2.79 trillion for Medicare;
• $2.49 trillion for Income Security;
• $2.02 trillion for Health;
• $581.64 billion for Veterans Benefits and Services;
• $469.24 billion for Transportation; and
• $155.31 billion for Social Security.

• Allows the chairman of the Committee on the Budget to increase appropriations for the State Children's Health Insurance Program (SCHIP), veterans and military personnel health care and disability benefits, renewable energy production, affordable housing, Medicare, and other programs, provided that they do not increase the budget deficit (Secs. 301-317).

• Allows the chairman of the House Committee on the Budget to revise budget levels for increases in tax reductions and credits for middle-income families and taxpayers, including extension of the child tax credit, reductions in the tax rate for married couples, and the elimination on most estate taxes and states that the policy of this resolution is to "minimize fiscal burdens on middle-income families" (Secs. 306 & 501).

• States that overseas military operations funding should not be included in emergency supplemental requests, implementing the 9/11 Commission recommendation to fund nuclear nonproliferation programs should be a high priority, TRICARE fees should not be increased, missile defense should be funded at an "adequate but lower level," and the Department of Defense should address the recommendations made by the Government Accountability Office and investigate money not accounted for (Sec. 502).

Full Bill Text

Full Bill Text