Budget Deficit Reduction Resolution
Official: A resolution expressing the sense of the Senate that the United States should reduce and maintain the Federal unified budget deficit at or below 3 percent of gross domestic product.
This resolution expresses the Senate's view that the United States should keep its budget deficit at or below 3 percent of its gross domestic product.
This resolution expresses the sense of the Senate that (1) Congress should adopt a fiscal target to reduce the federal budget deficit to 3% of gross domestic product or less as soon as possible and no later than the end of FY2030; and (2) after the target is achieved, Congress should continue to pursue further deficit reduction with the goal of achieving a balanced federal budget.
1. This resolution states that the Senate believes the federal budget deficit should be below 3 percent of the country's gross domestic product. 2. It emphasizes the importance of maintaining a sustainable budget to support economic stability. 3. The resolution does not create any new laws or policies but expresses the Senate's opinion on budget management. 4. It has been referred to the Committee on the Budget for further discussion and consideration.
This resolution affects taxpayers and families who rely on government services funded by the federal budget.