Establishing the budget for the United States Government for fiscal year 2012 and setting forth appropriate…

Sets forth the congressional budget for the federal government for FY2012, including the appropriate budgetary levels for FY2011, and FY2013-FY2021.

Lists recommended budgetary levels and amounts for FY2011-FY2021 with respect to: (1) federal revenues, (2) new budget authority, (3) budget outlays, (4) deficits (on-budget), (5) debt subject to limit, and (6) debt held by the public.

Lists the appropriate levels of new budget authority and outlays for specified major functional categories for FY2011-FY2021.

Sets forth reconciliation instructions for the House Committees on: (1) Agriculture, (2) Education and the Workforce, (3) Energy and Commerce, (4) Financial Services, (5) Natural Resources, (6) Oversight and Government Reform, and (7) Ways and Means.

Requires the House Committee on the Budget to report a reconciliation bill that slows the growth in mandatory spending and achieves deficit reduction.

Requires each House Committees to identify savings amounting to 1% of total mandatory spending under its jurisdiction from activities determined to be wasteful, unnecessary, or lower-priority.

Prohibits House legislation that would require advance appropriations, except for certain FY2013-FY2014 programs, projects, activities, or accounts.

Prescribes requirements for legislation reported out of committee and designated as an emergency requirement.

Requires the Joint Committee on Taxation to calculate the impact of any proposal to change federal revenues on Gross Domestic Product (GDP), total domestic employment, and other specified economic variables.

Prohibits the chairman of the House Committee on the Budget from taking into account the provisions of any piece of legislation which propose to increase revenue or offsetting collections if the net effect of the bill is to increase the level of revenue or offsetting collections beyond the level assumed in this budget resolution.

Requires the chairman to maintain a Budget Protection Mandatory Account and a Budget Protection Discretionary Account.

Requires the Majority Leader to introduce rescission bills quarterly. Prescribes legislative procedures for their floor consideration.

Expresses the sense of the House regarding: (1) baseline revenue projections, and (2) long-term budget projections.

Establishes an earmark moratorium for FY2011-FY2012 for legislation providing or authorizing discretionary budget authority, credit or other spending authority, providing a federal tax deduction, credit, or exclusion, or modifying the Harmonized Tariff Schedule in FY2011-FY2012. Prohibits the House Committee on Rules from reporting a rule or order waiving such moratorium.

Declares the policy of this resolution on: (1) health care law repeal, (2) bailouts of state and local governments, (3) means-tested welfare programs, and (4) reforming the federal budget process.

Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov