The House passed its budget resolution Wednesday evening by a vote of 218-212.
The House and Senate Budget Resolutions begin the process of Budget Reconciliation by which Congress will likely consider the next COVID-19 stimulus package. Reconciliation is a process by which Congress can expedite consideration of certain legislation. In the Senate, reconciliation is not subject to the filibuster and only requires a majority vote rather than a 60 vote supermajority. However, the scope of legislation is limited. Only fiscal maters may be considered.
The House Budget Resolution includes a provision allowing the Financial Services Committee to spend $75 billion in reconciliation over a 10-year budget window.
The Senate has introduced their Budget Resolution that would, in part, allow the Senate Banking Committee to spent $89.25 billion over the same window.
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