This afternoon, the House Committee on Ways and Means released Chairman Jason Smith’s amendment in the nature of a substitute (AINS) that will serve as the legislation to be marked up in Committee tomorrow at 2:30pm. Dubbed “The One, Big, Beautiful Bill,” it augments and, in some instances, modifies the provisions Ways and Means released […]

The coming days are among the most consequential for this year’s budget reconciliation process. As we forecasted last week, the three remaining House committees are scheduled to mark up their portions of the reconciliation bill this coming Tuesday, May 13: Agriculture, Energy & Commerce, and Ways & Means. E&C and W&M are scheduled to begin […]

As of this afternoon, the House Committees on Ways and Means, Energy and Commerce, and Agriculture are tentatively planning to markup their portions of the reconciliation bill next Tuesday, May 13. Committee rules require bill text to be posted at least two legislative days prior to the markup, which would mean this Friday, May 9. […]

Congress returns from the two-week Easter Recess on Monday after having passed a unified Fiscal Year (FY) 2025 Budget Resolution with reconciliation instructions, thus unlocking the expedited process for considering an extension of the Tax Cuts and Jobs Act (TCJA) and other Republican policy priorities (e.g., Trump campaign tax pledges, border security, domestic energy production, […]

Earlier today, the House passed the Senate’s amendment to the House-passed FY25 Budget Resolution, thus arming the two chamber’s dueling reconciliation instructions. With reconciliation now in effect, the two bodies can begin the process of fulfilling their respective instructions with legislative language from the committees that were instructed (view the House Budget Committee’s reconciliation process […]

Late this afternoon the Senate GOP released its new proposed budget resolution, which leaders expect to begin voting on and debating tomorrow. This afternoon, President Trump affirmed his support for the Senate plan, which is a significant departure from its original “skinny” budget resolution. The Senate GOP one-pager can be found here for your reference, […]

This week will be among the most consequential to date for the Trump 2.0 Administration and the Republican-controlled 119th Congress. On Tuesday, the Commerce Department, Treasury, and USTR will release trade reports as mandated under the America First Trade Policy memo, setting the stage for the imposition of broad-based reciprocal tariffs on April 2 (aka “Liberation Day”). […]

Today, House Republicans released the text of a continuing resolution (CR) to fund the government through the end of the fiscal year (September 30, 2025). While the CR is mostly “clean” (i.e., largely funds current programs at existing FY24 levels), it does contain a number of anomalies (outlined below), some of which fund Democratic priorities. […]

After some high drama, House Republicans managed to pass their version of the FY25 budget resolution tonight by a vote of 217-215. Only Representative Thomas Massie voted no, while all House Democrats opposed the measure. The vote was a victory for House Leadership, including Speaker Mike Johnson, Ways and Means Chair Jason Smith, and Budget Chair Jodey […]

This week marked yet another busy trade week for the Administration, with the successful confirmation and swearing-in of Howard Lutnick as Secretary of Commerce (Jamieson Greer will be confirmed as USTR this coming week), the President moving to defend U.S. companies and innovators from overseas policies it deems discriminatory and exploitive (e.g., DSTs, fines, practices, […]