2025 Reconciliation

The Senate Budget Committee recently reported out a budget resolution for Fiscal Year (FY) 2025 through 2034 and will soon consider it in the full...

Note (2/19/2025): The below analysis was written before the committee marked up the resolution and added a requirement for an additional $500 billion...

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

According to a recent press report, the House may try to claim $3 trillion of deficit reduction as a result of “assumed economic growth from tax cuts”...

A recent press report indicated that House leadership may be considering a budget resolution that would allow up to $5.5 trillion of net primary...

According to press reports, House lawmakers were recently considering a budget resolution with reconciliation instructions to allow up to $5.5...

The Tax Policy Center (TPC) recently published analyses of several options to raise the $10,000 State and Local Tax (SALT) deduction cap, which is set...

As we have pointed out before, extending the various individual and estate tax provisions of the Tax Cuts and Jobs Act (TCJA) beyond their scheduled...

According to press reports, policymakers are considering changes to the $10,000 state and local tax (SALT) deduction cap as part of their efforts to...

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

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

Some lawmakers are making the case that expiring tax cuts should be considered permanent in order to hide the $3.9 trillion increase in deficits that...