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The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.
3/13/2008--Passed House without amendment. Revises and replaces the congressional budget for the federal government for FY2008.
Sets forth the congressional budget for the federal government for FY2009, including the appropriate budgetary levels for FY2010-FY2013.
Title I: Recommended Levels and Amounts - (Sec. 101) Recommends budgetary levels and amounts for FY2008-FY2013 for: (1) federal revenues; (2) new budget authority; (3) budget outlays; (4) deficits (on-budget); (5) debt subject to limit; and (6) debt held by the public.
(Sec. 102) Lists the appropriate levels of new budget authority and outlays for specified major functional categories for FY2008-FY2013.
Title II: Reconciliation - (Sec. 201) Sets forth reconciliation instructions for the House Committee on Ways and Means.
Title III: Reserve Funds - (Sec. 301) Creates certain deficit-neutral reserve funds, subject to specified conditions, for legislation concerning: (1) the State Children's Health Insurance Program (SCHIP); (2) veterans and servicemembers; (3) educational benefits for servicemembers, veterans, and their families; (4) infrastructure investment; (5) renewable energy and energy efficiency; (6) middle-income tax relief and economic equity; (7) alternative minimum tax revision; (8) higher education; (9) affordable housing; (10) Medicare improvements; (11) health care quality, effectiveness, and efficiency; (12) Medicaid and other programs; (13) trade adjustment assistance (TAA) and unemployment insurance modernization; (14) county payments legislation; (15) San Joaquin River restoration and Navajo Nation Water Rights settlement; (16) the National Park Centennial Fund; and (17) child support enforcement.
Title IV: Budget Enforcement - (Sec. 401) Provides for adjustments to discretionary spending limits, budgetary aggregates, and allocations for: (1) continuing disability reviews and Supplemental Security Income (SSI) redeterminations by the Social Security Administration (SSA); (2) Internal Revenue Service (IRS) tax compliance; (3) the health care fraud and abuse control program; and (4) unemployment insurance improper payments reviews.
(Sec. 402) Requires all House committees to: (1) review programs within their jurisdiction to root out waste, fraud, and abuse in program spending, giving particular scrutiny to issues raised by Government Accountability Office (GAO) reports; and (2) recommend, based on these oversight efforts and committee performance reviews, improved governmental performance in annual views and estimates reports to the House Committee on the Budget.
(Sec. 403) Prohibits House legislation that would require advance appropriations, except certain FY2010 or FY2011 programs, projects, activities, or accounts.
(Sec. 404) States that new budget authority and outlays resulting from adoption of legislation making appropriations for FY2008-FY2009 for overseas deployments and related activities, or emergency appropriations for nondefense discretionary spending, shall not count for certain purposes of the Congressional Budget Act of 1974 (CBA).
(Sec. 405) Requires in the House the joint explanatory statement accompanying the conference report on any budget resolution to include in its allocation to the House Committee on Appropriations amounts for the discretionary administrative expenses of the SSA and of the Postal Service.
Title V: Policy - (Sec. 501) Declares the policy of this resolution on: (1) middle-income tax relief; and (2) defense priorities.
Title VI: Sense of the House - (Sec. 601) Expresses the sense of the House of Representatives on: (1) the Innovation Agenda and America Competes Act; (2) servicemembers' and veterans' health care and other priorities; (3) homeland security; (4) long-term fiscal revision; (5) waste, fraud, and abuse; (6) extension of the statutory PAYGO rule; (7) long-term budgeting; (8) the need to maintain and build upon efforts to fight hunger; (9) affordable health coverage; (10) pay parity; (11) subprime lending and foreclosures; and (12) the importance of child support enforcement.