[[New spending]], in the absence of a [[concurrent resolution]],<ref>The [[Sequestration#Background|Congressional Budget and Impoundment Control Act of 1974]] requires the adoption each year of a concurrent resolution on the budget.</ref> serves for the chamber passing it as an annual [[budget resolution]] for purposes of establishing enforceable budget levels for a budget cycle. | [[New spending]], in the absence of a [[concurrent resolution]],<ref>The [[Sequestration#Background|Congressional Budget and Impoundment Control Act of 1974]] requires the adoption each year of a concurrent resolution on the budget.</ref> serves for the chamber passing it as an annual [[budget resolution]] for purposes of establishing enforceable budget levels for a budget cycle. |