Sec. 5. Annual adoption of concurrent resolution on the budget
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Section 301 of the Congressional Budget Act of 1974 ( 2 U.S.C. 632 ) is amended— in subsection (a), in the matter following paragraph (7)— by striking resolution shall not and inserting resolution shall ; by striking or the related and inserting and the related ; by striking subsection or and inserting subsection and ; and by adding at the end the following: If a concurrent resolution on the budget is not adopted by April 15, the Chair of the Committee on the Budget of each House of Congress shall report to their House baseline levels for all amounts required under this subsection within 3 legislative days, and such baseline levels shall apply in such House as though they were included in a concurrent resolution on the budget. ; in subsection (b)(3), by inserting on the annual budget Act or before on any reconciliation bill or reconciliation resolution ; in subsection (d), in the first sentence, by striking committee. and inserting committee, including baseline spending projections by budget account of policies within the jurisdiction of such committee and a description of any changes such committee expects to recommend for the annual budget Act.
The Committee on Finance of the Senate and the Committee on Ways and Means of the House of Representatives shall each submit to the Committee on the Budget of its House a revenue statement, a tax expenditure budget, and a description of any changes such committee expects to recommend for the annual budget Act. ; and in subsection (e)(2)— in subparagraph (E), by striking and at the end; in subparagraph (F), by striking the period at the end and inserting ; and ; and by adding at the end the following: a line-item budget that compiles baseline spending and revenue projections for the budget year. .
Section 302(a)(5)(A) of the Congressional Budget Act of 1974 ( 2 U.S.C. 633(a)(5)(A) ) is amended by striking the discretionary spending levels and all that follows and inserting the baseline levels reported under section 301(a) for the budget year. .
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