BUDGET DEADLINE LOOMS LESS THAN A MONTH AWAY AS HOUSE MOVES FORWARD ON RECONCILIATION EFFORT

The House Budget Committee advanced their last-minute draft budget bill through a committee markup last week for House Republicans' party-line reconciliation effort. 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.

Two amendments clinched a 21-16 vote for approval from the panel. One would limit the amount of tax cuts Republicans can enact if they don’t cut $2 trillion in spending. The other would ensure Republicans include the text of the REINS Act in their final reconciliation bill. That measure would curtail federal rulemaking across government. However, the compromises could potentially deter crucial votes from swing-district Republicans uncomfortable with slashing programs like Medicaid and SNAP food assistance.

But with a March 14 funding deadline only weeks away, House Republicans, in effort led by Speaker Mike Johnson (R-LA), are deadest on quickly passing a large, singular bill. If House Republicans can pass the budget resolution on the floor later this month, they could a fend off a challenge from the Senate to determine the budget strategy.

That challenge comes from Senate Republicans led by Senate Budget Chair Lindsey Graham (R-SC). Senate Republicans, doubtful of the House’s ability to pass the bill quickly, pushed their own budget resolution out of committee, and it could come to the Senate floor later this week. Graham’s two-step strategy would leave tax cuts for later and first deliver a bill that focuses on border security, defense spending and energy policy.

Neither chamber can advance a final package until both approve an identical budget measure. House Republicans hope to utilize “reconciliation” in order avoid the Senate filibuster, which could torpedo a vote on the bill in the Senate. Afterwards, congress could send a unified final bill to the President’s desk for signature.

Johnson’s aim is to bring the House version of the bill to the floor by early April. However, swing-district Republicans may be hesitant to vote on the bill as-is. Republicans only have a two-vote majority in the House, leaving approval of the bill with little room to breathe.

To view a recording of the House markup proceedings from last Thursday, 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.