Congress Poised to Advance 2018 Budget Resolution

Both chambers of Congress are expected to move their long-awaited fiscal year (FY) 2018 budget resolutions this week. The Senate Budget Committee will hold a mark-up of its budget resolution on October 4 and October 5, while the House is looking to bring their version to the floor sometime before Thursday afternoon. The contents of the Senate legislation have been under wraps for months as Republican lawmakers debated the scope of their tax plan. The text of the legislation was released on Friday, and is now ready to move after key legislators agreed to provide $1.5 trillion over a decade to cover the cost of tax cuts. Passing a budget resolution is a high priority for Republicans, who are planning to use a tool in the budget process known as reconciliation to enable them to advance tax reform through the Senate with a simple majority vote.

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