There is one summary. Bill summaries are authored by CRS.

Shown Here:
Introduced in Senate (03/29/2012)

Sets forth the congressional budget for the federal government for FY2013, including the appropriate budgetary levels for FY2014-FY2022.

Lists recommended budgetary levels and amounts for FY2013-FY2022with respect to: (1) federal revenues, (2) new budget authority, (3) budget outlays, (4) deficits (on-budget), (5) public debt, and (6) debt held by the public.

Lists the appropriate levels of new budget authority, outlays, and administrative expenses of the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund (Social Security Trust Funds), U.S. Postal Service discretionary administrative expenses, and specified major functional categories for FY2013-FY2022.

Authorizes the Chairman of the Senate Budget Committee to: (1) make a deficit-reduction reserve fund for legislation that eliminates or reduces improper payments; and (2) reduce the allocations of committees for any savings achieved by such eliminations or reductions, with the savings used to reduce the deficit.

Makes it out of order to consider in the Senate any legislation that would cause the discretionary spending limits in this resolution to be exceeded (other than those allocated in this resolution to function 970 for war efforts overseas), except by a supermajority waiver. Specifies such discretionary spending limits in the Senate for FY2013-FY2022.

Makes it out of order to consider in the Senate any legislation, except by a supermajority, that would require advanced appropriations other than for: (1) up to $28.5 billion in new budget authority in FY2013-FY2014 for programs, projects, activities, or accounts identified in the joint explanatory statement of managers accompanying this resolution; and (2) the Department of Veterans Affairs (VA) for the Medical Services, Medical Support and Compliance, and Medical Facilities accounts of the Veterans Health Administration.

Sets forth requirements for the treatment of emergency legislation.

Allows the Chairman to adjust the estimate of budgetary effects of legislation that: (1) amends or supersedes the system for updating physician payments under title XVIII (Medicare) of the Social Security Act, (2) amends the Estate and Gift Tax under the Internal Revenue Code, (3) extends the Alternative Minimum Tax (AMT) relief for individuals, and (4) extends middle-class tax cuts under the Economic Growth and Tax Relief Reconciliation Act of 2001 and the Jobs and Growth Tax Relief and Reconciliation Act of 2003.

Permits the Chairman to make such adjustments only for points of order in specified legislation relating to: (1) pay-as-you-go, and (2) long- and short-term deficits.

Requires the joint explanatory statement accompanying the conference report on any budget resolution in the Senate to include in its committee allocations to the Senate Committee on Appropriations amounts for the discretionary administrative expenses of the Social Security Administration and of the Postal Service.