On February 25, the U.S. House of Representatives passed their budget resolution (H. Con. Res. 14) by a vote of 217-215. This step will allow the reconciliation process to begin, a legislative procedure that only requires simple majorities from both chambers to enact legislation relating to taxation, spending, and the debt limit. To proceed with budget reconciliation, the House and Senate must first pass the same resolution. However, Senators have voiced a variety of concerns about the House bill. Some Senators have voiced a desire to make the 2017 tax cuts permanent; there are also concerns about the raising of the debt ceiling by $4 trillion, as provided in the House bill; as well as views that the House spending cuts are too high, and tax cuts are too low. The Senate passed a budget resolution last week which would allow Congress to allocate $175 billion for border security and $150 billion in military funding, while leaving the tax debate for a second process later this year. The House and Senate must now negotiate to reach an agreement on the path forward.
For more information, contact RCRC Senior Vice President for Government Relations, Mary-Ann Warmerdam.