Establishing the congressional budget for the United States Government for fiscal year 2006, revising appropriate budgetary levels for fiscal year 2005, and setting forth appropriate budgetary levels for fiscal years 2007 through 2010.

Requires the House Committee on Ways and Means to report a reconciliation bill: (1) by September 23, 2005, that consists of changes in laws within its jurisdiction sufficient to reduce revenues by not more than $11 billion for FY 2006 and by not more than $70 billion for the period FY 2006 through 2010; and (2) by September 30, 2005, that consists solely of changes in laws within its jurisdiction to increase the statutory debt limit by $781 billion.

Allows the Chairman of the House Budget Committee to file with the House allocations and revised functional levels and aggregates upon submission to such Committee of: (1) a recommendation that has complied with its reconciliation instructions solely by virtue of the Congressional Budget Act (CBA); or (2) a conference report recommending a reconciliation bill or resolution in which a committee has complied with such Committee's reconciliation instructions solely by virtue of this section.

Considers such revised allocations and aggregates to be allocations and aggregates established by the concurrent resolution on the budget.

(Sec. 202) Requires, by September 16, 2005, recommendations to the Senate Committee on the Budget of changes in law within their respective jurisdictions sufficient to reduce outlays by specified amounts by the following Committees: (1) Agriculture, Nutrition, and Forestry; (2) Banking, Housing, and Urban Affairs; (3) Commerce, Science, and Transportation; (4) Energy and Natural Resources; (5) Environment and Public Works; (6) Finance; (7) Health, Education, Labor, and Pensions; and (8) Judiciary. Requires the Senate Committee on the Budget to report to the Senate a reconciliation bill carrying out all such recommendations without any substantive revision.

Directs the Senate Committee on Finance to report a reconciliation bill by: (1) September 23, 2005, that consists of changes in laws within its jurisdiction sufficient to reduce the total level of revenues by no more than $11 billion for FY 2006 and $70 billion for the period FY 2006 through 2010; and (2) September 30, 2005, that consists solely of changes in laws within its jurisdiction to increase the statutory debt limit by $781 billion.

Title III: Reserve Funds - Creates reserve funds, subject to specified conditions, for: (1) the Family Opportunity Act; (2) the Federal Pell Grant; (3) the uninsured; (4) the disposal of underutilized Federal real property; (5) health information technology and pay-for-performance; (6) an Asbestos Injury Trust Fund; (7) energy legislation; (8) the safe importation of prescription drugs; and (9) the restoration of the State Children's Health Insurance Program (SCHIP) funds. (Sec. 301) Authorizes the Chairman of the House or Senate Committee on the Budget to revise allocations and aggregates, and increase accordingly the new budget authority allocation to such Committees for FY 2005 and 2006 and for the period FY 2005 through 2009, if one of specified House or Senate committees reports legislation that provides new budget authority for accounts for programs, projects, and activities for highways, highway safety, and transit in excess of specified amounts for FY 2005 through 2009, provided such excess is offset by a reduction in mandatory outlays from the Highway Trust Fund or an increase in receipts appropriated to such Fund for the applicable fiscal year. Provides that, if the House and Senate Appropriations Committees report legislation that changes obligations limitations such that the total limitations exceed $44.193 billion for FY 2006 for highways, highway safety, and transit programs, projects, and activities, and if legislation has been enacted that satisfies the conditions of this title for such fiscal year, the appropriate Chairman may increase the Committees' allocation of outlays and aggregates for such fiscal year, and, as necessary, in subsequent fiscal years, by the amount of outlays that corresponds to such excess obligation limitations, but not to exceed the amount of such excess offset under this title.

(Sec. 302) Allows the appropriate Chairman to revise allocations and aggregates if the House Committee on Energy and Commerce or the Senate Committee on Finance reports legislation that provides families of disabled children with the opportunity to purchase coverage under the Medicaid coverage for such children (the Family Opportunity Act), provided it would not increase the deficit for FY 2006 and for the period FY 2006 through 2010. (Sec. 303) Allows the appropriate Chairman to revise allocations and aggregates, if the appropriate House or Senate Committee reports legislation that eliminates the accumulated shortfall of budget authority resulting from insufficient appropriations of discretionary new budget authority previously enacted for the Federal Pell Grant Program for awards made through the award year 2005-2006, if in the House the measure would not increase the deficit. Limits the adjustment to $4.3 billion in new budget authority for FY 2006. (Sec. 304) Allows the appropriate Chairman to revise allocations and aggregates, provided that it would not increase the deficit for FY 2006 and for the period FY 2006 through 2010, if the Senate Finance Committee, the Senate Committee on Health, Education, Labor, and Pensions, or the House Committee on Energy and Commerce reports legislation that addresses health care costs, coverage, or care for the uninsured, provides safety net access to integrated and other health care services, or increases the number of people with health insurance (provided that such increase is not obtained primarily as a result of increasing premiums for the currently insured), and increases access to coverage through mechanisms that decrease the growth of health care costs, and may include tax- and market-based measures. (Sec. 305) Allows the appropriate Chairman to revise allocations and aggregates for the House Committee on Government Reform if it reports legislation that enhances the Government's real property disposal authority and generates discretionary savings. Limits the adjustment to $50 million in new budget authority and outlays for FY 2006 and for the period of FY 2006 through FY 2010. (Sec. 306) Allows the appropriate Chairman to revise allocations and aggregates, provided that it would not increase the deficit for the period FY 2006 through 2010, if the Senate Finance Committee or the Senate Committee on Health, Education, Labor, and Pensions reports legislation providing incentives or other support for adoption of modern information technology to improve quality in health care, and providing for performance-based payments based on accepted clinical performance measures that improve the quality in health care. (Sec. 307) Allows the appropriate Chairman to revise allocations and aggregates, provided that it would not increase the deficit for FY 2006 through 2056, if the Senate Committee on the Judiciary reports legislation that: (1) provides monetary compensation to impaired victims of asbestos-related disease who can establish that asbestos exposure is a substantial contributing factor in causing their condition; (2) does not provide monetary compensation to the unimpaired claimants or those suffering from a disease who cannot establish such fact; and (3) is estimated to remain funded from nontaxpayer sources for the life of the fund. (Sec. 308) Allows the appropriate Chairman to revise allocations and aggregates if the Senate Committee on Energy and Natural Resources reports legislation that provides for a national energy policy. Limits amounts to $100 million in new budget authority and outlays for FY 2006 and $2 billion in new budget authority and outlays for the period FY 2006 through 2010. (Sec. 309) Allows the appropriate Chairman to revise allocations and aggregates if the Senate Committee on Health, Education, Labor, and Pensions reports legislation that permits the safe importation of prescription drugs approved by the Food and Drug Administration (FDA) from specified countries with strong safety laws, provided that such measure would not increase the deficit for FY 2006 and for the period FY 2006 through 2010. (Sec. 310) Allows the appropriate Chairman to revise allocations and aggregates if the Senate Committee on Finance reports legislation that provides for the restoration of unexpended funds under SCHIP that reverted to the Treasury on October 1, 2004, and that may provide for the redistribution of such funds for outreach and enrollment as well as for coverage initiatives, provided that it would not increase the deficit for FY 2006 and for the period FY 2006 through 2010. Title IV: Budget Enforcement - (Sec. 401) Sets forth prohibitions on advance House and Senate appropriations. Allows advance appropriations for FY 2007 and 2008 for programs, projects, activities or accounts identified in the joint explanatory statement of managers accompanying this resolution, but only in an aggregate of up to $23.158 billion in new budget authority. Allows waiver or suspension of a point of order on advance appropriations in the Senate only by an affirmative three-fifths (60) majority vote. (Sec. 402) Declares that, if the House reports legislation making supplemental appropriations for FY 2005 or 2006 for contingency operations related to the global war on terrorism, then the resulting new budget authority, entitlement authority, outlays, and receipts shall not count for CBA purposes (committee allocations). Considers amounts included in this resolution for the contingency operations to be current law for the preparation of the current level of the budget authority and outlays. Requires the appropriate levels to be adjusted upon enactment of such legislation. Declares that, in the Senate, any new budget authority, outlays, and receipts resulting from emergency requirements (including legislation making supplemental appropriations for FY 2006 for overseas contingency operations related to the global war on terrorism) shall not count for: (1) CBA purposes; (2) section 404 of this resolution (relating to discretionary spending limits in the Senate); and (3) section 505 of the Concurrent Resolution on the Budget for FY 2004, H.Con.Res. 95 (relating to the paygo requirement in the Senate). Limits amounts not counted to $50 billion in new budget authority and associated outlays. Specifies criteria with respect to designated emergency requirements. (Sec. 403) Continues the supermajority enforcement requirements of CBA as a Senate rule through FY 2010. Subjects to CBA temporary waiver and appeal requirements: (1) the prohibition against unfunded Federal intergovernmental mandates; and (2) the requirement that the budget resolution be adopted before any budget-related legislation is considered. Makes such waiver and appeal requirements inapplicable to reconciliation directions contained in a concurrent resolution on the budget. (Sec. 404) Extends Senate discretionary limits for FY 2006 through 2008.

Increases the allocation to the Senate Committee on Appropriations (Committee) by $189 million in budget authority and outlays for FY 2006 if legislation is reported that appropriates $412 million for continuing disability reviews for the Social Security Administration (SSA) and provides an additional appropriation of $189 million for such purpose.

Increases the allocation to the Committee by $446 million in budget authority and outlays for FY 2006 if legislation is reported that appropriates $6.447 billion for enhanced tax enforcement to address the "Federal tax gap" for the Internal Revenue Service (IRS) and provides an additional appropriation of $446 billion for such purpose.

Increases the allocation to the Committee by $80 million in budget authority and outlays for FY 2006 if legislation is reported that appropriates $80 million to the health care fraud and abuse control program at the Department of Health and Human Services (DHHS).

Increases the allocation to the Committee by $40 million in budget authority and outlays for FY 2006 if legislation is reported that appropriates $10 million for unemployment insurance improper payments reviews for the Department of Labor (DOL), and provides an additional appropriation of $40 million for such purpose.

Makes it out of order in the Senate to consider any legislation that would cause the discretionary spending limits in this section to be exceeded.

Permits: (1) waiver or suspension of such provisions only by an affirmative vote of three-fifths (60) of the Senate; and (2) appeals in the Senate from the decisions of the Chair on such provisions.

(Sec. 406) Requires the appropriate Chairman of the Committee on the Budget to make adjustments to the levels and allocations in this resolution according to the Balanced Budget and Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act), as in effect before September 30, 2002, upon enactment of any legislation providing for a change in concepts or definitions. Requires the budget authority counted against the bill for the Pell Grant Program to be equal to the adjusted full cost if enacted appropriations of discretionary new budget authority are insufficient to cover the full cost of Pell Grants in the upcoming award year, adjusted for any cumulative funding surplus or shortfall from prior years. Applies such provisions only to new Pell Grants awards approved in legislation for award year 2006-2007 and subsequent award years. Denies their application to the cumulative shortfall through award year 2005-2006. Bases the estimate of the budget authority associated with the full cost of Pell Grants on the maximum award and any changes in eligibility requirements, using current economic and technical assumptions and as determined pursuant to scorekeeping guidelines, if any. (Sec. 407) Requires the Congressional Budget Office (CBO), to the extent practicable, to prepare an estimate of the costs in each of the four ten-year periods beginning in FY 2016 through 2055, for each reported public bill or joint resolution (including amendments and conference reports), except measures within the Committee on Appropriations' jurisdiction, causing a net increase in direct spending in excess of $5 billion in any of such periods. Makes it out of order in the Senate to consider legislation that would cause a net increase in direct spending in excess of $5 billion in any of the four ten-year periods beginning in FY 2016 through 2055.

Permits: (1) waiver or suspension of this section only by an affirmative vote of three-fifths (60) of the Senate; and (2) appeals in the Senate from the decisions of the Chair on such provisions.

Excludes legislation reported pursuant to reconciliation directions contained in a concurrent resolution on the budget.

(Sec. 408) Requires the joint explanatory statement accompanying the conference report on any concurrent resolution on the budget to include in its committee allocation to the Committee on Appropriations amounts for the SSA discretionary administrative expenses.

Requires estimates of the level of total new budget authority and total outlays provided by a measure in the House to include discretionary amounts provided for the SSA. (Sec. 410) Authorizes the House Committee on Appropriations to make separate suballocations for appropriations for the legislative branch for the first fiscal year of this resolution.

Allows an allocation to a committee under CBA to display an amount to reflect a committee's instruction under the reconciliation process, but denies that such amount constitutes an allocation within the meaning of CBA. Prohibits changes in levels of direct spending achieved in a reconciliation bill submitted pursuant to title II of this resolution from being included in current levels of new budget authority and outlays for purposes of enforcing a committee allocation under CBA.

(Sec. 411) Expresses the sense of Congress that: (1) the share of the budget consumed by mandatory spending now is about 54 percent; and (2) concurrent resolutions on the budget for FY 2007 through 2010 should include reconciliation instructions to committees, biennially, pursuant to CBA to achieve significant savings in mandatory spending.

Title V: Sense of the Senate - (Sec. 501) Expresses the sense of the Senate that Congress should: (1) preclude consideration of any legislation that would provide an appropriation, in whole or in part, for programs not specifically authorized by law or Treaty stipulation, or the amount of which exceeds the amount specifically authorized by law or Treaty stipulation, or that would provide a limited tax benefit as defined by the Line Item Veto Act of 1996; and (2) determine a method for effectively containing the extraordinary growth in unauthorized earmarks.

(Sec. 502) Expresses the sense of the Senate that a commission should be established to review Federal agencies and their programs with the express purpose of providing Congress with recommendations and implementing legislation to realign or eliminate Government agencies and programs that are wasteful, duplicative, inefficient, outdated, irrelevant, or have failed to accomplish their intended purpose. (Sec. 503) Expresses the sense of the Senate that Congress should provide sufficient funding to the Department of Defense (DOD) to offer members of the Reserve Component continuous access to TRICARE for a premium regardless of their activation status. (Sec. 504) Expresses the sense of the Senate that: (1) this resolution recognizes the funding challenges faced by tribal colleges and universities and assumes that equitable consideration will be provided to them through funding of the Tribally Controlled College or University Assistance Act, the Equity in Educational Land Grant Status Act, title III of the Higher Education Act of 1965, and the National Science Foundation, DOD, and Housing and Urban Development Tribal College and University Programs; and (2) such equitable consideration reflects Congress intent to continue to work toward statutory Federal funding authorization goals for tribal colleges and universities. (Sec. 505) Expresses the sense of the Senate that: (1) the President, Congress, and the American people, including seniors, workers, women, minorities, and disabled persons, should work together at the earliest opportunity to enact legislation to achieve a solvent and permanently sustainable Social Security system; and (2) Social Security reform must protect current and near retirees from any changes to Social Security benefits, reduce the pressure on future taxpayers and on other budgetary priorities, provide benefit levels that adequately reflect individual contributions to the Social Security system, and preserve and strengthen the safety net for vulnerable populations including the disabled and survivors. (Sec. 506) Expresses the sense of the Senate that: (1) the level of funding provided for the Aeronautics Mission Directorate (AMD) within the National Aeronautics and Space Administration (NASA) should be increased by $1,582,700,000 between FY 2006 and 2010; and (2) the increases provided should be applied to the Vehicle Systems portion of the AMD's budget for use in subsonic and hypersonic aeronautical research. (Sec. 507) Expresses the sense of the Senate that: (1) it is ill-advised for DOD to pursue a winner-take-all strategy for the acquisition of destroyers under the next generation destroyer (DDX) program; and (2) the amounts identified in this resolution assume that the DOD will not acquire any destroyer under the next generation destroyer program through a winner-take-all strategy. Defines "winner-take-all strategy," with respect to the acquisition of destroyers under the next generation program, to mean the acquisition (including design and construction) of such destroyers through a single shipyard.