OKC Standard

Today, the House of Representatives voted to initiate the budget reconciliation process. This vote marks an early step in a lengthy procedure aimed at setting deficit reduction targets and instructing committees to draft reconciliation legislation. Notably, no changes can be made to Social Security as part of this process.

The proposal aims to address the national debt, which currently exceeds $36 trillion. It includes provisions intended to help the Trump Administration secure the southern border and protect against foreign adversaries. Additionally, it seeks to extend key tax provisions within the Tax Cuts and Jobs Act (TCJA) to maintain American competitiveness globally and prevent tax increases for American families. President Trump and House Republicans have also committed to protecting Medicare benefits.

Congresswoman Bice commented on the vote: “The vote today is only the beginning of the reconciliation process, and we still have a long way to go until we get the final bill text to the House floor. Through this process, my colleagues and I are trying to help secure the border, restore American energy production, and extend necessary tax cuts for American families and businesses. As we continue with the process, we must ensure we are taking a close look at the programs we are cutting, focus on fraud and abuse, and invest American taxpayer dollars properly. At $36 trillion dollars in debt, the path we are on is unsustainable.”

If TCJA were allowed to expire, it would result in increased federal bills for Oklahoma families by $1,911 on average and business taxes by $748 on average. The TCJA has led to significant reductions in federal tax rates for lower-income earners over recent decades.

The passage of tonight’s vote represents only step two in a multi-step reconciliation process:

- Budget Committee passes budget resolution.

- House votes on budget resolution.

- House and Senate agree on budget resolution.

- Instructed committees draft legislative recommendations meeting reconciliation targets in the budget resolution.

- Budget Committee combines all submissions into one bill without substantive revision.

- House considers and passes the bill.

- Bill is sent to Senate.

- Both chambers pass identical bills through conference committee or amendments.

- Bill is sent for presidential approval.