Tax Notes | Senate GOP Argues Budget Chair Has Final Say on Scoring Tax Bill

On Wednesday, the Trump Administration will mark what it’s calling “Liberation Day” by launching an array of reciprocal tariffs on various countries. In Congress, House and Senate GOP leaders will continue to reconcile their bodies’ differing budget resolutions. And the House will vote on a bill to restrict federal judges’ ability to issue injunctions blocking administrative policies.

This week, GOP leaders in Congress will begin their efforts to iron out differences between the House and Senate budget resolutions. House Speaker Mike Johnson (R-LA) hopes to pass a final budget bill before the Easter recess, but significant differences remain. Meanwhile, the Congressional Budget Office is scheduled on Wednesday to release its latest debt limit projection, the so-called X-date by which Congress needs to act to avoid exceeding the debt ceiling.   

Last week, Senate Republicans indicated they intend to advance their own budget packages, circumventing the need for any Democratic support. The upper chamber’s leaders hope to split the legislation into two packages, separating the party’s energy and border security proposals from a tax bill. Meanwhile, the House GOP plans to offer one omnibus measure, which could set up reconciliation challenges for the two bodies.

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With two weeks remaining before adjournment, the House leadership will be busy attempting to rally support for its $883.7 billion defense bill. Congressional leaders will also continue working to forge a stopgap measure to fund the government before spending expires on December 20. Meanwhile, advancing four Biden-appointed district court judges tops the agenda for Senate Democrats.