Baseline Reform Act of 2012

[AI summary unavailable — showing source text] Baseline Reform Act of 2011 - Amends the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) to revise the formula for establishing the budget baseline. Revises the annual baseline, for any fiscal year, to mean a projection of current-year levels of new budget authority (as under current law), outlays (as under current law), or receipts (instead of revenues) and the surplus or deficit (as under current law) for the current year, the budget year, and the ensuing nine outyears based on laws enacted through the applicable date. Includes estimates for direct spending in the baseline calculation formula for the budget year and each outyear. Revises the formula for calculating the baseline for discretionary spending for the budget year and each outyear to eliminate adjustments for: (1) expiring multiyear subsidized housing contracts; (2) administrative expenses of the Federal Hospital Insurance Trust Fund, the Supplementary Medical Insurance Trust Fund, the Unemployment Trust Fund, and the Railroad Retirement account; (3) offsets to federal employees' annual pay; and (4) certain inflators used to adjust budgetary resources in the Act. Amends the Act to d…