Let Your Voice be Heard by Congress; 5 Minute Survey
House Passes Budget Resolution While Senate Republicans Work to Find Agreement: On Feb. 25, the House voted 217-215 to pass its fiscal year (FY) 2025 budget resolution (H.Con.Res. 14). Rep. Thomas Massie (R-KY) was the sole Republican to oppose the measure after Republican leadership secured support from several remaining holdouts in the lead up to the vote. The resolution allows the Ways and Means Committee to increase the deficit by up to $4.5 trillion and anticipates that other committees will achieve $2 trillion in spending cuts. The resolution also contains a $4 trillion increase in the debt ceiling.
Republican Leadership Pushes for a ‘Clean’ CR as Shutdown Looms: House and Senate Republicans are continuing to negotiate on government funding and the passage of a continuing resolution (CR) as the March 14 deadline to avoid a government shutdown draws closer. House Speaker Mike Johnson (R-LA) has called for a “clean” CR that maintains funding at current levels and codifies cuts made by the Department of Government Efficiency (DOGE) at a later date. While President Trump endorsed the strategy in a post on Truth Social on Feb. 27, some House Republicans have expressed opposition to a clean CR, citing fiscal sustainability concerns. The White House has also added a list of additional spending provisions (aka “anomalies”) to the discussions. Further, House Democrats have remained noncommittal, with Minority Leader Hakeem Jeffries (D-NY) saying that there has been “zero outreach” from Republicans. Democrats have also asked for the bill to include provisions that would limit President Trump’s discretion with respect to congressionally approved funding, effectively mandating that appropriated funds be spent, a provision opposed by Republicans.
Bessent to Meet with Congressional Republicans Weekly to Discuss Tax Issues: Treasury Secretary Scott Bessent reportedly will meet with the congressional Republican tax leadership—including Senate Majority Leader John Thune (R-SD), House Speaker Mike Johnson (R-LA), Senate Finance Committee Chairman Mike Crapo (R-ID) and House Ways and Means Committee Chairman Jason Smith (R-MO)—on a weekly basis. National Economic Council Chairman Kevin Hassett is also expected to join the discussions. The meetings will be used to discuss how to best enact President Trump’s tax policy priorities and seek to reconcile the difference in strategy between the House and Senate.
Ways and Means Committee Marks Up Disaster Relief, Cryptocurrency Legislation: On Feb. 26, the House Ways and Means Committee completed a markup of the Disaster Related Extension of Deadlines Act (H.R. 1491) and the Filing Relief for Natural Disasters Act (H.R. 517), as well as Congressional Review Act (CRA) legislation disapproving the rule promulgated by the Treasury Department and the Internal Revenue Service (IRS) related to “Gross Proceeds Reporting by Brokers that Regularly Provide Services Effectuating Digital Asset Sales” (H.J.Res. 25).
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