Congress Faces Challenges in Tax Policy and Budget Reconciliation Efforts
This week, Congress is focused on tax policy and budget reconciliation as the House and Senate are both in session. The House is preparing for a floor vote on the FY2027 budget resolution, which includes a $95 billion reconciliation bill. This bill prioritizes defense funding, voter ID measures, and farm aid, but excludes tax provisions. The Senate's reception of the resolution is uncertain, with some members expressing concerns about the lack of spending offsets. Additionally, several tax-related bills have been introduced, including the Disclosure of Tax Havens and Offshoring Act, aimed at increasing transparency for U.S. multinationals.