Sets forth the congressional budget for the federal government for FY2011, including the appropriate budgetary levels for FY2010, and FY2012-FY2020.
Lists recommended budgetary levels and amounts for FY2010-FY2020 with respect to: (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.
Lists the appropriate levels of new budget authority and outlays for specified major functional categories for FY2010-FY2020.
Sets forth reconciliation instructions for the House Committees on: (1) Agriculture; (2) Education and Labor: (3) Energy and Commerce; (4) Financial Services; (5) the Judiciary; (6) Natural Resources; (7) Oversight and Government Reform; and (8) Ways and Means.
Requires the House Committee on the Budget to report a reconciliation bill that slows the growth in mandatory spending and achieves deficit reduction.
Requires each House Committees to identify savings amounting to 1% of total mandatory spending under its jurisdiction from activities determined to be wasteful, unnecessary, or lower-priority.
Prohibits House legislation that would require advance appropriations, except for certain FY2012-FY2013 programs, projects, activities, or accounts.
States that Rule XXVII (Disclosure by Members and Staff of Employment Negotiations) [sic] of the Rules of the House of Representatives shall not apply with respect to adoption by Congress of a budget resolution for FY2011.
Prescribes requirements for legislation reported out of committee and designated as an emergency requirement.
Requires the Joint Committee on Taxation to calculate the impact of any proposal to change federal revenues on Gross Domestic Product (GDP), total domestic employment, and other specified economic variables.
Prohibits the chairman of the House Committee on the Budget from taking into account the provisions of any piece of legislation which propose to increase revenue or offsetting collections if the net effect of the bill is to increase the level of revenue or offsetting collections beyond the level assumed in this concurrent resolution.
Makes it out of order in the House to consider direct spending legislation increasing a specified on-budget deficit or decreasing an on-budget surplus for any applicable time period.
Requires the chairman of the House Committee on the Budget to maintain a Budget Protection Mandatory Account and a Budget Protection Discretionary Account.
Requires the Majority Leader to introduce rescission bills quarterly. Prescribes legislative procedures for their floor consideration.
Expresses the sense of the House regarding: (1) baseline revenue projections; and (2) long-term budget projections.
Establishes an earmark moratorium for FY2011 for legislation providing or authorizing discretionary budget authority, credit or other spending authority, providing a federal tax deduction, credit, or exclusion, or modifying the Harmonized Tariff Schedule in FY2011. Prohibits the House Committee on Rules from reporting a rule or order waiving such moratorium.
Declares it is the policy of this resolution that: (1) the Patient Protection and Affordable Care Act (P.L. 111-148) and the Health Care and Education Reconciliation Act of 2010 (P.L. 111-152) should be repealed; and (2) in their place, health care reform that empowers patients should be enacted.