{"id":13396,"date":"2025-02-10T17:48:39","date_gmt":"2025-02-11T01:48:39","guid":{"rendered":"https:\/\/familyenterpriseusa.com\/?p=13396"},"modified":"2025-02-10T17:48:46","modified_gmt":"2025-02-11T01:48:46","slug":"senate-budget-committee-releases-budget-resolution","status":"publish","type":"post","link":"https:\/\/familyenterpriseusa.com\/family-businesses\/senate-budget-committee-releases-budget-resolution\/","title":{"rendered":"Senate Budget Committee Releases Budget Resolution"},"content":{"rendered":"

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Senate Budget Committee Chairman Lindsey Graham (R-SC) released a draft\u00a0budget resolution<\/a>\u00a0to provide for consideration of a national security, immigration, and energy spending package.<\/strong><\/h1>\n

 <\/p>\n

The Senate Budget Committee is expected to consider the budget resolution on Wednesday, February 12 and Thursday, February 13.<\/strong><\/em><\/h2>\n

 <\/p>\n

The resolution contains the below reconciliation instructions organized by committee. Notably, the draft Senate budget resolution does\u00a0not\u00a0include instructions to committees to propose tax or debt limit legislation. If agreed to by both chambers, committees are instructed to report their deficit reduction and spending recommendations to the House and Senate Budget Committees by March 7.<\/p>\n

Under the budget reconciliation process, the House and Senate must pass identical budget resolutions prior to consideration of reconciliation legislation. The Senate draft resolution may face opposition from House Republican leadership and other members, who continue to negotiate their own budget resolution, reported to be announced next week. Notably, the Senate resolution would initiate the budget reconciliation process for fiscal year (FY) 2025, which would allow for the consideration of a second reconciliation package focused on tax under FY 2026.<\/p>\n

This two-bill strategy supported by Chairman Graham and Senate Republicans is at odds with House Republicans\u2019 preferred strategy to enact one reconciliation package focused on tax and spending legislation. Nevertheless, it is unclear whether the House can advance either a House- or Senate-led budget resolution due to pressure from conservative Republicans to secure significant budget cuts.<\/p>\n

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About Squire Patton Boggs
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We hope you’ve enjoyed this article. While you’re here, we have a small favor to ask…<\/em><\/h4>\n

As we prepare for what promises to be a pivotal year for America, we’re asking you to consider becoming a member.<\/p>\n

The need for fact-based reporting of issues important to multi generational businesses<\/a> and protecting a lifetime of savings<\/a> has never been greater. Now more than ever, multi generational businesses<\/a> and family businesses<\/a> are under fire. That’s why Family Enterprise USA<\/a> is passionately working to increase the awareness of issues important to generationally-owned family businesses<\/a> built on hard work, while continuing to strengthen our presence on Capitol Hill. The issues we fight for or against with Congress in Washington DC include high income tax rates<\/a>, possible elimination of valuation discounts, increase in capital gains tax<\/a>, enactment of a wealth tax<\/a>, and the continued burden of the gift tax<\/a>, estate tax<\/a> and generation skipping tax<\/a>.<\/p>\n

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Family Enterprise USA<\/a> promotes generationally<\/a> owned family business<\/a> creation, growth, viability, and sustainability by advocating for family businesses<\/a> and their lifetime of savings with Congress<\/a> in Washington DC.\u00a0 Since 2007, Family Enterprise USA<\/a> has represented and celebrated\u00a0all sizes, professions and industries of family-owned enterprises and multi-generational<\/a> employers. It is a bi-partisan 501.c3 organization.\u00a0Family foundations can donate.<\/a><\/p>\n

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#incometax #taxseason #federaltaxpolicy #taxation #EstateTax #Deathtax #wealthtax #taxLegislation #CongressionalCaucus #CapitalGainsTax #incometaxrates #incometaxseason #taxrefund #taxreturn #incometaxreturn #gifttax #Generationskippingtax #InheritanceTax #repealestatetax #FamilyBusiness #promotefamilybusinesses #familyowned #supportlocalbusiness #womeninbusiness #AdvocatingForFamilyBusinesses #Generationallyowned #Multigenerationalbusiness\u00a0 @FamilyEnterpriseUSA @PolicyAndTaxationGroup @DitchTheEstateTax #FamilyEnterpriseUSA #PolicyAndTaxationGroup #DitchTheEstateTax<\/p>\n

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Senate Budget Committee Chairman Lindsey Graham (R-SC) released a draft\u00a0budget resolution\u00a0to provide for consideration of a national security, immigration, and energy spending package.   The Senate Budget Committee is expected to consider the budget resolution on Wednesday, February 12 and Thursday, February 13.   The resolution contains the below reconciliation instructions organized by committee. Notably, […]<\/p>\n","protected":false},"author":2,"featured_media":13399,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","content-type":"","footnotes":""},"categories":[48,92],"tags":[],"class_list":["post-13396","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-family-businesses","category-multi-generational-business"],"acf":[],"_links":{"self":[{"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts\/13396","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=13396"}],"version-history":[{"count":3,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts\/13396\/revisions"}],"predecessor-version":[{"id":13402,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts\/13396\/revisions\/13402"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/media\/13399"}],"wp:attachment":[{"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=13396"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=13396"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=13396"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}