To amend the Congressional Budget Act of 1974 to establish a point of order to prohibit the extension of the public debt limit unless a concurrent resolution on the budget has been agreed to and is in effect.

Budget Before Borrowing Act of 2012 - Amends the Congressional Budget Act of 1974 to make it out of order in both chambers to consider any bill or joint resolution, amendment, or conference report to extend the public debt limit unless a concurrent resolution on the budget has been agreed to and is in effect for the fiscal year during which such measure is being considered. Permits:...