House Republican leaders are considering pursuing a second budget reconciliation package this year following discussions at a recent leadership retreat in Florida. However, significant questions remain about what policies the package would include and how lawmakers would offset its cost.
Meanwhile, Ways and Means Committee Chair Jason Smith (R-MO) has voiced skepticism about pursuing a second reconciliation package, reiterating his view that there was likely only enough political momentum for one major bill this Congress. Nonetheless, coming out of their retreat, we know that a new bill is at least possible.
“I’ve said it all along that we need one big reconciliation [bill] because I didn’t see a path that there was enough juice for two, and I still stand by that,” Smith said.
The Republican Study Committee is pushing hard for another reconciliation bill.
The RSC’s Reconciliation 2.0 Framework outlines a conservative roadmap to:
Lower housing, health care, and energy costs
Eliminate wasteful government spending
Restore fiscal discipline and achieve deficit reduction
Make affordability reforms permanent through reconciliation
- Here is the full text of the GOP plan
For associations and other tax-exempt organizations, any additional reconciliation effort could present another vehicle for tax policy changes, making the issue one to watch in the months ahead. Frankly, that’s the only reason we pay close attention to reconciliation legislation – as it could contain new or higher taxes that may impact the non-profit community.
