When was the fy12 budget passed

Figure 9. Although the Administration's budget contains no specific Social Security proposals, President Obama expressed support for bipartisan efforts to strengthen Social Security for the long term and put forth a set of principles to govern these reform efforts. In its report on the budget resolution, the House Budget Committee refers to the December recommendations of the President's Commission on Fiscal Responsibility and Reform as demonstration "that there is a bipartisan way forward" on Social Security reform.

In the interim, the resolution would require the Social Security Board of Trustees to recommend statutory reforms to the President in any year when the Trustees find the year actuarial balance and the annual balance in the 75 th year are in deficit. The President would be required to submit legislation to implement these recommendations by a certain deadline and congressional committees would be required to report legislation under expedited procedures.

Function covers the programs of the Department of Veterans Affairs VA , including veterans' medical care, compensation and pensions, education and rehabilitation benefits, and housing programs. This function includes both mandatory and discretionary spending accounts.

Mandatory funding supports disability compensation, pension benefits, education, vocational rehabilitation, life insurance, and burial benefits, among other benefits and services. Spending under this function is divided among five subfunctions: The Administration and House budgets for veterans benefits and services are virtually identical, and both very slightly exceed the CBO baseline. Figure Programs categorized as "human resources" comprise the majority of federal outlays and have grown over the last five decades as a share of the overall national economy.

CBO expects that spending for these programs will have peaked in FY and will fall through FY, although spending levels will remain higher than they were before the recent recession. CBO further expects that overall human resources spending will begin to climb again starting in FY; however, all of the projected growth will be in health care Medicaid and Medicare and Social Security. All other components of the human resources superfunction will diminish as a share of the economy over the coming decade, according to CBO's current law baseline.

The Administration and Congress are engaged in a debate over reducing the federal deficit and stabilizing the national debt; proposals to reduce and change the composition of federal spending are a major part of this debate. In February, the Administration gave Congress a detailed budget request for FY, which includes proposals to reduce spending for certain programs and increase spending for others; the February budget request was followed in April with an additional set of deficit reduction principles.

Based on an analysis of the February budget, the Administration proposes no overall reduction in outlays for the human resources superfunction, although some of the proposals included in the April Framework would further lower spending for this portion of the budget.

Within the human resources category, the House resolution would reduce spending primarily in three functions. As noted earlier in this report, most federal programs specifically directed to low-income populations are in the human resources superfunction and are most likely to be included in the three specific functions just mentioned.

In comparing these proposals, it is important to note the significant difference in size among the functions. For example, while the House budget resolution envisions a relatively large reduction in spending for Function ETESS than would otherwise occur under current law, this proposal would contribute relatively little toward deficit reduction because of the small size of the function overall. On the other hand, with no change in current law CBO expects the function that includes Medicaid will be more than six times larger than Function in FY and the income security function will be more than four times larger; thus, reductions from the baseline in these functions would yield greater savings.

Although the House resolution assumes conversion of Medicare into a premium subsidy program, this would not take effect until FY, which is beyond the year budget window and therefore not reflected in the spending trends displayed in this report.

Likewise, neither the Administration's budget nor the House budget resolution includes specific changes to Social Security or veterans benefits and services. Social Security is currently the largest of the human resources functions under current law, and would remain so under both the Administration and House proposals, with projected spending in FY that is 10 times that of Function ETESS and more than twice that of Function income security.

Table A Medicare Fun ction Veterans' Benefits and Services Function Social Security F unction Veterans ' Benefits and Services Function The text of these amendments can be found in U.

Congress, House Rules Committee, report to accompany H. These programs are referred to as automatic stabilizers. Notably, Social Security is a self-financed program, with income from three sources: payroll taxes paid by covered workers and their employers, federal income taxes paid by some beneficiaries on a portion of their benefits, and interest income from the Social Security trust fund investments.

Medicare is partially financed through a dedicated payroll tax; other sources of financing include beneficiary premiums and general revenues. The fact sheet does not identify which programs would be considered "low-income" for this purpose. House Budget Committee Chairman Ryan's Path to Prosperity says the budget resolution sets spending targets that are below the levels set by H.

On May 11, , House Appropriations Committee Chairman Rogers announced preliminary " b allocations" to the subcommittees, reflecting the spending targets in H. For long-term trends in discretionary spending for the health care services and health research and training subfunctions, see Figures 3 and 4 in CRS Report R, Discretionary Budget Authority by Subfunction: An Overview , by [author name scrubbed].

The ACTC is a refundable credit, available to certain families who also qualify for the nonrefundable Child Tax Credit but whose tax liability is too low for them to fully benefit from the nonrefundable credit. Most Social Security spending is "off-budget," which means it is not included in the annual congressional budget process.

Topic Areas About Donate. Download PDF. Download EPUB. Topic areas Domestic Social Policy. Tables Table A Appendixes Appendix. Summary The th Congress is focusing attention on short- and long-term efforts to reduce the federal deficit and stabilize the national debt, including proposals to alter the overall size and composition of total federal spending.

Introduction Members of Congress and the Obama Administration are engaged in debate over short- and long-term efforts to reduce the federal deficit and stabilize the national debt. Here you'll find the latest news on funding of the U. Department of Education programs, including congressional action on appropriations:.

See what is requested for the programs and activities of the Department of Education. MS Excel [2. PDF [84KB]. Impact Budget Center Resources Jobs. Fiscal Year USGLC released a press release applauding the budget request as well as its signature comprehensive analysis. It would not be granted for legislation increasing revenues for FY unless such increase results from a repeal of the individual mandate and health insurance subsidies in federal health care reform law.

If legislation addressing the purposes of a designated reserve fund is enacted, the Budget Committee may revise spending allocations and spending ceilings to reflect the spending or savings impact of the legislation. Reserve funds are also used as messag devices to help advance legislation that relates to the purposes of a specific reserve fund.

House Budget Committee.