A concurrent resolution setting forth the congressional budget for the United States Government for fiscal year 2023 and setting forth the appropriate budgetary levels for fiscal years 2024 through 2032.
Summary
This concurrent resolution, introduced by Senator Rand Paul, proposes a comprehensive federal budget plan for fiscal year 2023 and establishes financial targets for the following decade through 2032. The bill outlines specific limits on government spending, revenue collection, and public debt, while establishing "reserve funds" intended to encourage legislative savings and the expansion of health savings accounts.
For the average citizen, this resolution represents a blueprint for significant changes to federal fiscal policy aimed at reducing the national deficit and slowing the growth of the public debt. If implemented, it would establish new enforcement rules for how Congress spends taxpayer money and would likely lead to the consolidation or reduction of various federal programs to meet the proposed spending caps. However, the measure failed to move forward in the Senate, meaning these specific budgetary levels and enforcement procedures were not adopted.