Overview

• The House narrowly approved the budget framework, overcoming resistance from conservative Republicans demanding deeper spending cuts than the Senate's proposal.
• The resolution enables the reconciliation process, allowing Republicans to bypass the Senate filibuster and advance President Trump's $7 trillion tax agenda.
• Speaker Mike Johnson and Senate Majority Leader John Thune pledged to pursue $1.5 trillion in spending reductions, addressing concerns from fiscal hawks.
• The framework includes provisions to extend Trump’s 2017 tax cuts and introduce new tax breaks, alongside increased funding for border security and defense.
• Further debates are expected as the House and Senate reconcile differences over spending cuts and fiscal priorities in the coming weeks.