Overview

• The House is scheduled to vote Thursday on President Trump’s first rescissions package, which seeks to claw back $9.4 billion in previously approved spending
• Speaker Mike Johnson can lose no more than three Republican votes in his conference to secure passage of the modest cuts plan
• Concerns about reductions to the President’s Emergency Plan for AIDS Relief have surfaced among GOP lawmakers including Rep. Don Bacon and Sen. Susan Collins
• Senate Republicans are concurrently drafting their own reconciliation bill, with the Banking, Housing and Urban Affairs Committee unveiling text that would alter CFPB funding
• Critics such as Elon Musk have argued that broader reconciliation measures worsen the deficit and highlight that the $9.4 billion package falls far short of DOGE’s initial trillion-dollar targets