April 10, 2025

Earlier today, the House of Representatives adopted the Fiscal Year 2025 Budget Resolution as amended by the Senate, kicking off the Budget Reconciliation process. 

Statement from TCS President Steve Ellis:

The Devil is in the details, but if the final reconciliation product looks anything like what the Senate drafted, the hit on the nation’s finances will be enormous.

While we would strongly prefer a deficit-neutral approach to handle the expiring provisions from the 2017 Tax Cuts and Jobs Act, the House version at least called for up to $2 trillion in offsets for $4.5 trillion in tax cuts.

The Senate package would lead to a dystopian fiscal future, with $6 trillion in lost revenue offset by only a paltry $4 billion. The House should not have believed promises of more significant savings—if the Senate planned on making them, they would have written them into the package. Senate Republicans wouldn’t vote for them in theory, so how can they be trusted to vote on them in fact?

Taxpayers need lawmakers to stop this fiscal train wreck so they can get off.

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Taxpayers for Common Sense is a nonpartisan budget watchdog calling out wasteful spending and advocating for transparency.