FY 2025 Reconciliation Resources

The 119th Congress is expected to use the reconciliation process to pass legislation with a significant fiscal impact, such as extending the expiring portions of the 2017 Tax Cuts and Jobs Act (TCJA). To ensure that the public has current and accurate information, the Committee for a Responsible Federal Budget has been publishing various resources related to reconciliation and the possible debate around that legislation. The list below will be updated as we continue to publish additional products on the topic.

In order for the reconciliation process to begin, the House and Senate must pass a concurrent budget resolution that includes a deficit reduction or cost target for relevant committees. Each committee would then propose policies to meet those targets and compile them into reconciliation legislation. The final package would be eligible to be privileged in the Senate, meaning that it would not be subject to the filibuster. Since Congress never enacted a budget resolution for FY 2025, that resolution is still available to pass and begin the reconciliation process. Congress could also utilize an FY 2026 budget resolution. Read more in our Reconciliation 101 paper.

Offsets and Savings

• Budget Offsets Bank (12/17/24)
• Options to Raise Tariff Revenue (12/17/24)
• Medicaid Savings Options (12/12/24)
• Options for Reducing the Revenue Loss of TCJA Extension (12/3/24)
• Reversing Biden Executive Actions Could Save up to $1.4 Trillion (11/26/24)
• There Are Plenty of Offsets for Tax Cut Extensions (11/25/24)
• $700 Billion of Easy Deficit Reduction (11/14/24)

Policy Products and Blogs

• Kent Conrad: The Conrad Rule is the Answer to our Budget Reconciliation Woes (12/17/24)
• TCJA Extension Might Not Pay for Any of Itself (12/10/24)
• You Can’t Just Wish Away Deficit Effects by Assuming Something is Permanent (11/21/24)
• Plans to Address TCJA Expirations (10/17/24)
• Bipartisan Group Urges Congress to Pay for Tax Cut Extension (10/16/24)
• SALT Cap Expiration Could Be Costly Mistake (8/28/24)
• TCJA Extension Could Add $4 to $5 Trillion to Deficits (6/13/24)
• Tax Cut Extension Would Only Pay for 1% to 14% of Itself (6/6/24)
• Build Your Own Tax Extensions

Educational Materials

• Reconciliation 101 (11/18/24)
• Meeting Fiscal Goals Under CBO’s June 2024 Baseline (7/25/24)

Press Releases

• Deficit-Reducing Reconciliation Is Just What We Need (12/18/24)
• Policymakers Should Include Dynamic Scores for Tax Reform (12/2/24)
• Budget Reconciliation Should Be Used to Reduce the Debt, Not Add to It (11/19/24)
• Tax Cuts Need Offsets, Not Baseline Games (9/26/24)