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.

Key Points

• A group of senators from both parties is pushing a new plan to get the government's overspending under control. They want to limit the yearly deficit to no more than 3% of the total value of the U.S. economy by the year 2030.
• Currently, the government spends about $1.8 trillion more than it brings in each year. This has pushed the total national debt to $31 trillion. The interest payments on this debt have reached $1 trillion, which is now more than the country spends on national defense.
• The proposal asks the Senate to make it harder to ignore budget rules and requires experts to check if new laws will make the deficit worse. While this doesn't change spending immediately, it sets a strict target for future laws and government budgets.

Impact Analysis

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