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.

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[S. Res. 654 Introduced in Senate (IS)]

<DOC>

119th CONGRESS
  2d Session
S. RES. 654

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.

_______________________________________________________________________

                   IN THE SENATE OF THE UNITED STATES

                             March 20, 2026

   Mr. Cramer (for himself, Mr. King, Mr. Peters, and Mr. McCormick) 
submitted the following resolution; which was referred to the Committee 
                             on the Budget

_______________________________________________________________________

                               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.

Whereas reducing annual deficits to 3 percent of gross domestic product has 
        attracted bipartisan support as a target to stabilize the national debt;
Whereas the budget deficit was $1,800,000,000,000 for fiscal year 2025, or 
        roughly 6 percent of gross domestic product (referred to in this 
        preamble as ``GDP''), even in the absence of major new emergency 
        spending;
Whereas the national debt held by the public now stands at nearly 
        $31,000,000,000,000;
Whereas interest payments on the national debt are now projected to total more 
        than $1,000,000,000,000, the highest level in American history and more 
        than total defense spending;
Whereas the rising deficits and debt represent a threat to national security, 
        economic growth, and future generations;
Whereas rising deficits also threaten to increase interest rates and the cost of 
        living, reduce the government's flexibility to respond to fiscal 
        emergencies, and create risks of a fiscal crisis;
Whereas the Federal budget ran a sub-3 percent deficit-to-GDP in 1989, 1994, 
        1995, 1996, 1997, 2002, 2005, 2006, 2007, 2014, and 2015;
Whereas the Federal Government ran a surplus in 1998, 1999, 2000, and 2001;
Whereas deficit reduction is best achieved when aiming toward a manageable, 
        meaningful target; and
Whereas Congress has a bipartisan responsibility to enact fiscal policies that 
        promote long-term economic growth and to safeguard future generations, 
        and to be ready for future emergencies: Now, therefore, be it
    Resolved, That it is the sense of the Senate that--
            (1) Congress should adopt a fiscal target to reduce the 
        Federal budget deficit to 3 percent of gross domestic product 
        (in this resolution referred to as ``the target'') or less as 
        soon as possible and no later than the end of fiscal year 2030;
            (2) following the achievement of the target, Congress 
        should continue to pursue further deficit reduction with the 
        goal of achieving a balanced Federal budget;
            (3) the President should submit budgets designed to create 
        a path to meet and sustain the target;
            (4) the congressional budget resolution should set 
        allocations consistent with meeting the target on schedule;
            (5) the Committee on the Budget of the Senate should, 
        within 180 days, recommend enforcement options for 
        consideration, which may include points of order and a backstop 
        mechanism for when the target is not projected to be met;
            (6) the Committee on Rules and Administration of the Senate 
        should, within 180 days, recommend changes to the rules of the 
        Senate to ensure that the target can be met, including ensuring 
        that rules of the Senate for budget enforcement are difficult 
        to waive, and that enforcement of the Statutory Pay-As-You-Go 
        Act of 2010 (Public Law 111-139) is difficult to waive;
            (7) the Congressional Budget Office should include 
        statements within its cost estimates for major legislation that 
        demonstrate how the legislation affects consistency toward the 
        target under a current law baseline;
            (8) the Joint Committee on Taxation is encouraged to 
        provide supplemental analysis of whether major legislation 
        advances or impedes progress toward the target; and
            (9) efforts to meet the target should examine changes to 
        address current levels and the growth of discretionary 
        appropriations, direct spending, and revenues and the gap 
        between current revenues and expenditures of the Federal 
        Government that avoid timing shifts, reclassifications, or 
        other budgetary gimmicks.
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