Establishing the congressional budget for the United States Government for fiscal year 1998 and setting forth appropriate budgetary levels for fiscal years 1999, 2000, 2001, and 2002.

TABLE OF CONTENTS: Title I: Levels and Amounts Title II: Reconciliation Instructions Title III: Sense of Congress Provisions Establishes the congressional budget for the Government for FY 1998 and sets forth budgetary levels for FY 1999 through 2002. Title I: Levels and Amounts - Lists recommended budgetary levels and amounts, for FY 1998 through 2002, for: (1) Federal revenues; (2) new budget authority; (3) budget outlays; (4) deficits; (5) the public debt; (6) direct loan obligations; and (7) primary loan guarantee commitments. Sets forth levels of new budget authority, budget outlays, new direct loan obligations, and new primary loan guarantee commitments for FY 1998 through 2002 for specified major functional categories. Title II: Reconciliation Instructions - Establishes a deadline for the submission of specified House committee recommendations on changes in laws that provide direct spending to the House Budget Committee. Requires the House Budget Committee to report a reconciliation bill carrying out such recommendations without substantive revision to the House. Establishes outlay limits, for FY 1998 through 2002, for the following House committees: (1) Agriculture; (2) Banking and Financial Services; (3) Commerce; (4) Education and the Workforce; (5) Government Reform and Oversight; (6) Transportation and Infrastructure; (7) Veterans' Affairs; and (8) Ways and Means. Sets forth, for FY 1998 through 2002: (1) deficit reduction targets for the House Government Reform and Oversight Committee; and (2) amounts by which revenues shall be decreased and increased, respectively, by the House Ways and Means Committee. Deems the House Committees on Commerce and Ways and Means to be in noncompliance with reconciliation instructions pursuant to the Congressional Budget Act of 1974 if such committees provide a children's health initiative that would increase the deficit by more than specified amounts for FY 1998 through 2002. Title III: Sense of Congress Provisions - Expresses the sense of the Congress with respect to: (1) legislation to provide middle-income tax relief, small business tax incentives and relief, and extensions to the solvency of the Medicare Trust Fund; (2) offsets of tax cuts by revenue increases; (3) sufficient funding to insure all uninsured children in America through health care grants and expansion of Medicaid and for domestic discretionary funding for priority areas; (4) increased Medicaid coverage for low-income adults, seniors, and uninsured children; (5) increased annual limits on Pell Grants; (6) support for the President's school construction initiative; (7) increased funding for educational opportunities, crime intervention and prevention, and domestic violence programs; (8) transportation improvement funding; (9) sufficient funding for specified programs to meet the needs of infants and toddlers; (10) funding for the National Institutes of Health and veterans' cost-of-living allowances and housing benefits; (11) full funding for Federal research and development programs; (12) increased housing assistance; and (13) priorities in spending on defense readiness and personnel as opposed to expansions of large weapons systems.