House and Senate Budget Plans

The House and Senate have both cleared their—very different—budget blueprints out of committee. Republicans in both chambers are now eyeing quick floor action. Senate Majority Leader John Thune (R-SD) hasn’t ruled out the idea of bringing his chamber’s budget resolution to the floor this week. Across the Capitol, House GOP leaders would like to bring their budget resolution up for a floor vote the week of February 24, when House lawmakers return from their week-long recess. However, this resolution is only the first step for any attempt at a Reconciliation bill. Both chambers will need to put a pause on reconciliation negotiations once the budget resolutions are passed, as lawmakers on both sides of the aisle need to figure out how to keep the government running beyond March 14, when government funding runs out for the fiscal year.

Either they will have to pass another continuing resolution or fund the government through October 1, 2025. Current conventional wisdom believes in a potential government shutdown happening as there is still little agreement between the two parties.