May 2, 2025
Last week, the House of Representatives passed the Senate-amended budget framework, pushing the reconciliation process forward and getting the chamber one step closer to the goal of “one big, beautiful bill,” as described by President Trump. The resolution passed 216-214, with Rep. Thomas Massie (R-KY) and Rep. Victoria Spartz (R-IN) being the only two Republicans to join House Democrats in voting against the framework. The passage of this resolution paves the way for the reconciliation process that Republicans hope to use to push the President’s legislative priorities through initiatives like extending the 2017 Tax Cuts and Jobs Act. Although the budget framework now exists, the House and Senate have vastly different instructions on executing these plans. House Speaker Mike Johnson (R-LA) and Senate Majority Leader John Thune (R-SD) are roughly aligned on a spending cut target of $1.5 trillion. The House Agriculture Committee has been instructed to cut $230 billion over ten-year spending. The Senate Agriculture Committee has only been directed to cut at least $1 billion within the same fiscal period. After the two-week recess, the House is expected to begin the Committee markup process ahead of the Senate during the next work period. It is worth noting that reconciliation will have a challenging time moving forward until mutual Committee toplines can be met.
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