S.Res. 654 — 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.

This section expresses the sense of the Senate that (1) Congress should adopt a fiscal target to reduce the federal budget deficit to 3% of gross domestic product or less as soon as possible and no later than the end of FY2030; (2) following achievement of the target, Congress should pursue further deficit reduction toward a balanced federal budget; (3) the President should submit budgets to meet and sustain the target; (4) congressional budget resolutions should set allocations consistent with the target; (5) the Senate Committee on the Budget should recommend enforcement options (e.g., points of order, backstop mechanism) within 180 days; (6) the Senate Committee on Rules and Administration should recommend Senate rule changes within 180 days to enforce the target, including strengthening budget enforcement and Statutory Pay-As-You-Go Act waivers; (7) the Congressional Budget Office should include statements in cost estimates for major legislation assessing consistency with the target under a current-law baseline; (8) the Joint Committee on Taxation should provide supplemental analysis of major legislation's impact on the target; and (9) deficit reduction efforts should address discretionary appropriations, direct spending, revenues, and the expenditures-revenues gap while avoiding budgetary gimmicks.