Sets forth the congressional budget for the federal government for FY2012, including the appropriate budgetary levels for FY2013-FY2021.
Lists recommended budgetary levels and amounts for FY2012-FY2021 with respect to: (1) federal revenues, (2) new budget authority, (3) budget outlays, (4) deficits, (5) public debt, and (6) debt held by the public.
Lists the appropriate levels of new budget authority, outlays, and administrative expenses for the Social Security Administration (SSA), including the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund, U.S. Postal Service discretionary administrative expenses, and specified major functional categories for FY2012-FY2021.
Authorizes the Chairman of the Senate Budget Committee to make a deficit-reduction reserve fund for legislation that eliminates or reduces improper payments.
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, except by a supermajority waiver. Specifies such discretionary spending limits in the Senate for FY2012-FY2021.
Makes it out of order to consider in the Senate any legislation 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; (2) the Corporation for Public Broadcasting; and (3) 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 of the Senate Budget Committee 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 (EGTRRA) and the Jobs and Growth Tax Relief and Reconciliation Act of 2003 (JGTRRA).
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 Committees on Appropriations amounts for the discretionary administrative expenses of the SSA and of the Postal Service.