2025 Reconciliation

Interest costs are projected to approach $1 trillion this year, nearly triple 2020 levels. In light of current interest rates and the ongoing...

As written, the reconciliation bill being considered in the House of Representatives is set to increase the debt by $3.3 trillion between 2025 and...

The House is continuing to mark up its reconciliation legislation, which we estimate would add $3.3 trillion to the debt including interest or $5.2...

Update (5/21/2025): CBO released a score of all titles but not a full cost estimate with interactions; our analysis of that score is here . The...

The House Ways & Means Committee is set to mark up its title of the Fiscal Year (FY) 2025 reconciliation bill on Tuesday. The Joint Committee on...

The House Energy & Commerce (E&C) Committee recently released its proposed reconciliation legislation, which is expected to save over $900 billion...

Update (5/10/2025): This piece was published prior to the Joint Committee on Taxation's revenue estimate , which totals $4.9 trillion for the bill as...

Update: The offset options below were estimated prior to enactment of the One Big Beautiful Bill Act (OBBBA) and have not been updated. OBBBA phased...

The Fiscal Year (FY) 2025 concurrent budget resolution reconciliation instructions would allow the House to add up to $2.8 trillion to primary...

The Ways and Means Committee has jurisdiction over nearly $50 trillion of spending and tax breaks that can be tapped for reconciliation, including...

Under the House's reconciliation instructions, the Energy & Commerce Committee is tasked with identifying at least $880 billion of net deficit...

Policymakers are considering an extension of expiring parts of the Tax Cuts and Jobs Act (TCJA) as part of a reconciliation bill, which could reduce...