HOUSE BUDGET BILL UNVEILED JUST AHEAD OF MARKUP TODAY
The House Budget Committee released a last-minute draft budget bill yesterday, February 12, for House Republicans' party-line reconciliation effort, ahead of a scheduled markup of the bill today, February 13. With a March 14 funding deadline less than a month away, House Republicans, in effort led by Speaker Mike Johnson (R-LA), are deadest on passing the measure.
Speaker Johnson's singular bill is a reconciliation effort that would address border security, energy, and an extension of his 2017 tax law. Regarding energy, one measure in the bill would mandate that the Committee on Energy and Commerce "submit changes in laws within its jurisdiction to reduce the deficit by not less than $880,000,000,000 for the period of fiscal years 2025 through 2034."
Johnson plans to pass a budget resolution which will set tax and spending levels by February, which would then pave the way for committees to autonomously create legislation adhering to those outcomes. Once that is finalized, the package will be brought to the floor for a vote, which Johnson is aiming to do by the beginning of April.
Reconciliation is a way for Congress to enact legislation on taxes, spending, and the debt limit with only a majority (51 votes, or 50 if the Vice President breaks a tie) in the Senate. This measure also avoids the threat of a filibuster, which requires 60 votes to overcome. Since Republicans have 53 seats in the Senate and an incoming Republican Vice President (to break any ties in a vote), reconciliation looks to be a promising route through which to get a tax-and-spending bill through Congress directly to the President’s desk, even if all Senate Democrats opposed it. Budget reconciliation bills can deal with spending, revenue, and the federal debt limit, and the Senate can pass one bill per year affecting each subject. Congress can thus pass a maximum of three reconciliation bills per year, though in practice it has often passed a single reconciliation bill affecting both spending and revenue. Policy changes that are extraneous to the budget are limited by the "Byrd Rule", which also prohibits reconciliation bills from increasing the federal deficit after a ten-year period or making changes to Social Security. These will all be keys in the discussion, particularly as Senate Republicans led by Senate Budget Chair Lindsey Graham (R-SC), doubtful of the House’s ability to pass the bill quickly, pushed their own budget resolution out of committee yesterday, in an 11-10 vote.
Markup of the House Bill began earlier today, at 10:00am ET. Republicans are hopeful that the bill will pass in the House Budget Committee. To view the markup proceedings, click here.
ECA will keep you updated on the budget as the situation develops. To track details on the budget fight yourself, see Politico's live updates on the matter. For more information on the Budget process, visit ECA’s website.