Sets forth the congressional budget for the federal government for FY2013, including the appropriate budgetary levels for FY2012, and FY2014-FY2022.
Lists recommended budgetary levels and amounts for FY2012-FY2022with 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 FY2012-FY2022.
Sets forth reconciliation instructions for the House Committees on: (1) Agriculture, (2) Education and the Workforce, (3) Energy and Commerce, (4) Financial Services, (5) Natural Resources, (6) Oversight and Government Reform, and (7) 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 Committee to identify savings amounting to 1% of total mandatory spending under its jurisdiction from activities determined to be wasteful, unnecessary, or lower-priority.
Establishes discretionary spending limits for FY2013-FY2022.
Makes it out of order in the House to consider any legislation that causes discretionary budget authority to exceed such limits.
Prohibits House legislation that would require advance appropriations, except for certain FY2013-FY2014 programs, projects, activities, or accounts.
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.
Allocates $931 billion of new budget authority for FY2013 to the House Committee on Appropriations.
Prohibits the chair 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 budget resolution.
Requires the chair 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.
Amends Rule XXI (Restrictions on Certain Bills) of the House of Representatives to allow an amendment to an appropriations bill that amends existing law if it is a germane amendment to an authorizing provision or a line item appropriation of the bill under consideration.
Establishes an earmark moratorium for FY2012-FY2013 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 FY2012-FY2013. Prohibits the House Committee on Rules from reporting a rule or order waiving such moratorium.
Declares the policy of this resolution on: (1) health care law repeal, (2) bailouts of state and local governments, (3) means-tested welfare programs, (4) reforming the federal budget process, (5) reforming federal regulations, (6) Medicare reform, (7) deficit reduction through cancellation of unobligated balances, and (8) block granting Medicaid to the states.