Establishes the congressional budget for the federal government for FY2019 and sets forth budgetary levels for FY2020-FY2028.
Recommends levels and amounts for FY2019-FY2028 in both houses of Congress for:
- federal revenues,
- new budget authority,
- budget outlays,
- deficits,
- public debt,
- debt held by the public, and
- the major functional categories of spending.
Recommends levels and amounts for FY2019-FY2028 in the Senate for Social Security and Postal Service discretionary administrative expenses.
Includes reconciliation instructions directing: (1) several Senate authorizing committees to report and submit to the Senate Budget Committee legislation to reduce the deficit, and (2) the Senate Finance Committee to report and submit to the Senate Budget Committee legislation to reduce the deficit and legislation to reduce revenues.
(Under the Congressional Budget Act of 1974, reconciliation bills are considered by Congress using expedited legislative procedures that prevent a filibuster and restrict amendments in the Senate.)
Establishes reserve funds that provide flexibility in applying budget enforcement rules to legislation relating to efficiencies, consolidations, and other savings; or health savings accounts.
Sets forth budget enforcement procedures for legislation considered in the Senate.