Policy statement on mandatory spending reduction

(a) Findings The House finds the following: (1) The United States faces a significant debt crisis, with the national debt currently exceeding $36 trillion, or 123 percent of GDP. (2) Since 2019, mandatory spending has increased by 59 percent. (3) This debt poses a significant risk to the country's long-term fiscal sustainability, with implications for future generations. (4) Mandatory spending currently accounts for over 70 percent of the entire Federal budget. (5) The deficit for fiscal year 2025 is projected to be $1.9 trillion, or 6.2 percent of GDP. (6) This fiscal year, net interest will total $952 billion, or 3.2 percent of GDP. (b) Policy on mandatory spending reduction It is the goal of this concurrent resolution to reduce mandatory spending by $2 trillion over the budget window. If the combined deficit reduction provided by authorizing committees is below this target, it is the policy of the Committee on the Budget of the House that the instruction provided to the Committee on Ways and Means of the House should be reduced by a commensurate amount to offset the difference.