2025 Reconciliation

As Congress considers the possibility of a second reconciliation bill, lawmakers should ensure it reduces deficits rather than adds to them as the...

The recently-enacted One Big Beautiful Bill Act (OBBBA) is expected to significantly boost near-term economic activity, but is unlikely to accelerate...

Earlier this month, the President signed the 2025 reconciliation law – also known as the “One Big Beautiful Bill Act” (OBBBA). The law extended and...

Note: This blog was updated on 8/4/25 to reflect CBO's newly-released estimates of the permanent cost of certain expiring tax provisions in OBBBA. The...

The 119th Congress is expected to use the reconciliation process to pass legislation with a significant fiscal impact, such as extending the expiring...

The recently enacted One Big Beautiful Bill Act (OBBBA) would add an estimated $4.1 trillion to the debt through Fiscal Year (FY) 2034, based on...

Updated 7/11/25: On July 1, 2025, the Senate passed its version of the OBBBA by a narrow 51–50 vote —Vice President JD Vance casting the tie-breaker...

The House is set to consider the Senate-passed reconciliation bill. Below we outline 15 major problems with the Senate-passed bill. 1. Adds $4.1...

The Senate has passed its version of the Fiscal Year (FY) 2025 reconciliation bill – the One Big Beautiful Bill Act (OBBBA). The table below is a...

In addition to adding an extra $1.1 trillion to the national debt above the House bill to a total of over $4.1 trillion, the Senate-passed One Big...

Update (7/2/2025): The analysis below has been updated based CBO's initial estimate of the Senate-passed bill and JCT's estimate of the Senate-passed...

The Congressional Budget Office (CBO) just published their “current policy” score of the Senate reconciliation bill, showing the bill would add about...