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US: House Budget Cte To Mark Up Budget Resolution Underway Shortly

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The House Budget Committee is shortly due to convene to mark up a budget resolution that will underpin a huge reconciliation bill to legislate President Donald Trump's agenda. A livesteam of proceedings is likely to be available here. Details of the budget resolution here. 

  • The resolution includes $4.5 trillion for the House Way and Means Committee to write up Trump's tax agenda, including the extension of 2017 tax cuts and potentially new Trump campaign pledges like exempting tipped earnings from federal tax.
  • The resolution aims to "reduce mandatory spending by $2 trillion over the budget window" setting floors for various departments to decrease the federal deficit.
  • House Speaker Mike Johnson (R-LA) told reporters yesterday that the budget blueprint is merely the “starting place” for cuts, adding that his objective, “is to try to save $2 trillion or more because we think that’s necessary to prevent an increase in the deficit,”
  • Discharging the resolution from the Budget committee will be the first major test of Johnson and Trump's influence over hardliners in the House GOP conference. Several deficit hawks, including Rep Chip Roy (R-TX) and Ralph Norman (R-SC), sit on the budget panel and have indicated they could oppose the resolution.
  • If Johnson, and Budget Committee Chair Jodey Arrington (R-TX), fail to discharge the resolution from the committee, it will put the Senate in the driver’s seat for reconciliation.
  • Additional analysis of the budget resolution in today's edition of the US Daily Brief. 
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The House Budget Committee is shortly due to convene to mark up a budget resolution that will underpin a huge reconciliation bill to legislate President Donald Trump's agenda. A livesteam of proceedings is likely to be available here. Details of the budget resolution here. 

  • The resolution includes $4.5 trillion for the House Way and Means Committee to write up Trump's tax agenda, including the extension of 2017 tax cuts and potentially new Trump campaign pledges like exempting tipped earnings from federal tax.
  • The resolution aims to "reduce mandatory spending by $2 trillion over the budget window" setting floors for various departments to decrease the federal deficit.
  • House Speaker Mike Johnson (R-LA) told reporters yesterday that the budget blueprint is merely the “starting place” for cuts, adding that his objective, “is to try to save $2 trillion or more because we think that’s necessary to prevent an increase in the deficit,”
  • Discharging the resolution from the Budget committee will be the first major test of Johnson and Trump's influence over hardliners in the House GOP conference. Several deficit hawks, including Rep Chip Roy (R-TX) and Ralph Norman (R-SC), sit on the budget panel and have indicated they could oppose the resolution.
  • If Johnson, and Budget Committee Chair Jodey Arrington (R-TX), fail to discharge the resolution from the committee, it will put the Senate in the driver’s seat for reconciliation.
  • Additional analysis of the budget resolution in today's edition of the US Daily Brief.