Earlier this week, the Senate voted to proceed on consideration of the budget resolution. The budget resolution sets forth the spending levels for Congress for the upcoming fiscal year, but also contains a mechanism to fast-track legislation in the Senate called “reconciliation.”  Reconciliation measures are also not subject to the filibuster in the Senate, meaning legislation can pass with a simple majority of 50 votes, rather than 60 votes.  The budget is expected to pass the Senate on a party line vote later this week.  After that, because the House and Senate budget resolutions are different, the two houses will have to resolve their differences in a conference committee, and the House and Senate will then have to pass the compromise budget.
Congressional Republicans plan to reserve the reconciliation process in the year’s budget resolution for tax reform.  It is expected that after the budget passes, the tax writing committees in the House and Senate will begin formally drafting tax reform legislation that follows the framework outlined by House Republican leaders in September.
AGC supports using the budget resolution to begin the process for tax reform, and signed a letter calling on Congress to pass the budget resolution.
For more information, contact Matt Turkstra at [email protected] or (202) 547-4733.