See How Your Politicians Voted
Title: Limits Federal Appropriations for Fiscal Years 2013-2022 ("Ryan Budget")
Vote Smart's Synopsis:
Vote to pass a concurrent resolution that appropriates funds for fiscal year 2013 and limits federal spending for fiscal years 2014 through 2022.
Highlights:
- Appropriates $2.79 trillion in funds for fiscal year 2013 (Sec. 101).
- Limits appropriations as follows for fiscal years 2014 to 2022 (Sec. 101):
- $2.68 trillion for 2014;
- $2.76 trillion for 2015;
- $2.89 trillion for 2016;
- $3.00 trillion for 2017;
- $3.12 trillion for 2018;
- $3.29 trillion for 2019;
- $3.46 trillion for 2020;
- $3.57 trillion for 2021; and
- $3.78 trillion for 2022.
- Limits the budget deficit as follows for fiscal years 2013 to 2022 (Sec. 101):
- $0.83 trillion in 2013;
- $0.52 trillion in 2014;
- $0.32 trillion in 2015;
- $0.26 trillion in 2016;
- $0.21 trillion in 2017;
- $0.19 trillion in 2018;
- $0.23 trillion in 2019;
- $0.22 trillion in 2020;
- $0.20 trillion in 2021; and
- $0.25 trillion in 2022.
- Limits public debt to the following amounts for fiscal years 2013 to 2022 (Sec. 101):
- $12.4 trillion for 2013;
- $12.9 trillion for 2014;
- $13.3 trillion for 2015;
- $13.6 trillion for 2016;
- $13.9 trillion for 2017;
- $14.1 trillion for 2018;
- $14.4 trillion for 2019;
- $14.7 trillion for 2020;
- $15 trillion for 2021; and
- $15.4 trillion for 2022.
- Requires each House committee to submit a recommendation to the Committee on the Budget of the House of Representatives regarding changes in laws that will reduce the deficit between 2012 and 2022 (Sec. 201).
- Authorizes the chair of the Committee on the Budget to adjust the appropriations in this resolution to accommodate certain policy changes including, but not limited to, the following (Sec. 503):
- Adjustments to the Alternative Minimum Tax exemption in order to reduce the number of taxpayers that are subject to the Alternative Minimum tax;
- Extension of the estate, gift, and generation-skipping transfer taxes;
- A 20 percent deduction against the income taxes of small businesses;
- Repeal or amendment of the Patient Protection and Affordable Care Act; and
- A reduction in tax rates.
- Prohibits any bills or joint resolutions, other than those reported by the Committee on Appropriations, from increasing federal spending by more than $5 billion for any of the first 4 consecutive 10 fiscal-year periods beginning in 2023 (Sec. 504).
- Establishes a reserve fund for the repeal of the Patient Protection and Affordable Care Act (Sec. 401).
- Limits federal revenues to 19 percent of Gross Domestic Product for fiscal years 2030, 2040 and 2050 (Sec. 301).
- Reduces future budgets as follows (Sec. 301):
- 20.25 percent of Gross Domestic Product in 2030;
- 18.75 percent of Gross Domestic Product in 2040; and
- 16 percent of Gross Domestic Product in 2050.
- Requires the federal government to reduce public debt as follows (Sec. 301):
- To 53 percent of Gross Domestic Product in 2030;
- To 38 percent of Gross Domestic Product in 2040; and
- To 10 percent of Gross Domestic Product in 2050.