This resolution would outline a budget for fiscal year 2017 and start the process of repealing the Affordable Care Act (commonly known as Obamacare) by giving congressional committees instructions to produce a repeal bill by January 27, 2017 through the reconciliation process. It also outlines budget levels for future fiscal years through 2026, and reserves funds to be used on an Obamacare replacement.
Spending for fiscal year 2017 would be set at $3.264 trillion, while revenue to the government through taxes would be $2.682 trillion, resulting in a deficit of more than $582 billion. In 2026, it projects $4.673 trillion in spending, $3.903 trillion in tax revenue, and a deficit of $1.008 trillion.
This resolution gives four congressional committees reconciliation instructions so that Obamacare repeal legislation could be passed with a simple majority in the Senate rather than the usual 60 vote threshold. The four committees — Ways and Means and Energy and Commerce in the House, and the Senate’s Finance and Health, Education, Labor and Pensions — would need to achieve at least $1 billion in deficit reduction over the budget period and provide Obamacare repeal legislation to the Budget Committee by January 27, 2017. That $4 billion in deficit reduction would go to a reserve fund for the repeal legislation..
As a concurrent resolution, this legislation can’t become law so it wouldn’t go to the president’s desk for a signature. Concurrent resolutions are basically just Congress expressing their opinion on a policy matter, in this case on the budget and the repeal of the Affordable Care Act. It also doesn’t authorize any actual spending, instead it simply lays out budget levels that appropriators will have to work within.