This concurrent resolution establishes the congressional budget for the federal government for FY2022, sets forth budgetary levels for FY2023-FY2031, and provides reconciliation instructions for legislation to reduce the deficit.

The resolution recommends levels and amounts for FY2022-FY2031 for

• federal revenues,
• new budget authority,
• budget outlays,
• deficits,
• public debt,
• debt held by the public, and
• the major functional categories of spending.

It also recommends levels and amounts for Social Security and Postal Service discretionary administrative expenses for the purpose of budget enforcement in the Senate.

The resolution includes reconciliation instructions that direct several Senate committees to report legislation to reduce the deficit over FY2022-FY2031 by amounts specified for each committee.

(Under current law, reconciliation bills are considered by Congress using expedited legislative procedures that prevent a filibuster and restrict amendments in the Senate.)

In addition, the resolution establishes reserve funds that allow certain adjustments to committee allocations and other budgetary levels to accommodate legislation relating to (1) efficiencies, consolidations, and other savings; or (2) health savings accounts.

The resolution also sets forth budget enforcement procedures that address issues such as budget points of order, emergency legislation, Congressional Budget Office cost estimates, and adjustments for legislation that reduces appropriations.