Expressing the sense of the House of Representatives that the United States should reduce and maintain the Federal unified budget deficit at or below 3 percent of gross domestic product.
- Bill Number
- H.Res. 981
- Origin Chamber
- House
- Congress
- 119th Congress, Session 2
- Policy Area
- Economics and Public Finance
- Status
- Introduced
- Latest Action
- 2026-01-07: Referred to the Committee on the Budget, and in addition to the Committees on Ways and Means, and Rules, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
- Last Updated
- 2026-05-22T08:08:35Z
AI-Generated Summary
Purpose
This resolution expresses the sense of the House of Representatives that the United States should reduce the federal unified budget deficit to 3 percent or less of gross domestic product (GDP) as soon as possible, but no later than the end of fiscal year 2030, and then pursue further reductions toward a balanced budget.
Key Provisions
- Congress should set a fiscal target of a deficit at or below 3 percent of GDP by fiscal year 2030.
- After reaching the target, Congress should aim for a balanced federal budget.
- The President should submit budgets that create a path to meet and sustain the target.
- The congressional budget resolution should include allocations consistent with meeting the target on schedule.
- The House Budget Committee should recommend enforcement options within 180 days, such as points of order or a backstop mechanism.
- The House Rules Committee should recommend changes to House rules within 180 days to make budget enforcement harder to waive and strengthen enforcement of the Statutory Pay-As-You-Go Act of 2010.
- The Congressional Budget Office should include analysis in cost estimates for major legislation showing effects on progress toward the target.
- The Joint Committee on Taxation is encouraged to provide supplemental analysis on whether major legislation advances or impedes the target.
- Deficit reduction efforts should focus on discretionary spending, direct spending, and revenues without using timing shifts, reclassifications, or other gimmicks.
Significant Changes to Existing Law
This is a non-binding resolution and introduces no direct changes to existing law. It recommends procedural and rule changes by House committees to support the deficit target but does not enact new requirements or alter current statutes.
Potential Impacts
- On government agencies: It could influence the President's budget submissions, congressional budget processes, and analyses by the Congressional Budget Office and Joint Committee on Taxation.
- On citizens: Reduced deficits might affect interest rates, cost of living, and long-term economic stability, while potentially limiting flexibility for future emergencies.
- On international relations: Lower debt levels could strengthen U.S. fiscal credibility abroad, though the resolution does not address foreign policy directly.
Main Stakeholders Affected
- Congress (particularly the Budget and Rules Committees).
- The President and executive branch.
- Congressional Budget Office and Joint Committee on Taxation.
- Taxpayers and future generations impacted by debt and spending decisions.
Notable Legal, Constitutional, or Political Implications
The resolution highlights a bipartisan approach to fiscal policy but remains non-binding, relying on voluntary adherence to targets. It may raise political debates over enforcement mechanisms and budget priorities without creating new constitutional obligations.
This summary was generated by AI and may contain inaccuracies. Refer to the official source document for the authoritative text.
Sponsor
Cosponsors (20)
Rep. Peters, Scott H. [D-CA-50], Rep. Smucker, Lloyd [R-PA-11], Rep. Quigley, Mike [D-IL-5], Rep. Arrington, Jodey C. [R-TX-19], Rep. Case, Ed [D-HI-1], Rep. Womack, Steve [R-AR-3], Rep. Panetta, Jimmy [D-CA-19], Rep. Houchin, Erin [R-IN-9], Rep. Perez, Marie Gluesenkamp [D-WA-3], Rep. Moore, Blake D. [R-UT-1], Rep. Houlahan, Chrissy [D-PA-6], Rep. Johnson, Dusty [R-SD-At Large], Rep. Golden, Jared F. [D-ME-2], Rep. Estes, Ron [R-KS-4], Rep. Beyer, Donald S. [D-VA-8], Rep. Schweikert, David [R-AZ-1], Rep. Suozzi, Thomas R. [D-NY-3], Rep. Edwards, Chuck [R-NC-11], Rep. Feenstra, Randy [R-IA-4], Rep. Costa, Jim [D-CA-21]
Recent Actions
- 2026-01-07: Referred to the Committee on the Budget, and in addition to the Committees on Ways and Means, and Rules, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
- 2026-01-07: Referred to the Committee on the Budget, and in addition to the Committees on Ways and Means, and Rules, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
- 2026-01-07: Referred to the Committee on the Budget, and in addition to the Committees on Ways and Means, and Rules, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
- 2026-01-07: Submitted in House
- 2026-01-07: Submitted in House
Bill Versions
- Expressing the sense of the House of Representatives that the United States should reduce and maintain the Federal unified budget deficit at or below 3 percent of gross domestic product. — issued 2026-01-07 — PDF (4 pages)