This Fall, Congress will have to simultaneously move three major pieces of legislation: infrastructure, budget reconciliation process and an increase to the debt ceiling, laying the ground work for an incredibly jam packed fall in the policy space. This summer, the Senate voted in a bipartisan manner to pass a $1.2 trillion infrastructure deal inclusive of funding to repair roads and bridges, address climate change and improve digital broadband. Since then, House Speaker Nancy Pelosi has since committed to vote on the bipartisan bill by September 27th, 2021. You can read more about the Bipartisan Infrastructure Deal here. The second major piece of this fall’s policy debate will be the $3.5 trillion budget resolution. What do we know, and what can we expect from the budget resolution? At this point, many of the details of the budget are unclear, given that there is still not any formal legislative text for the budget. However, we do know that the House and Senate provided instructions directing committees to craft a bill that would spend up to $3.5 trillion. Here are some of the major elements included in the instructions:
To learn more about the Senate Reconciliation instructions, you can read this memo summarizing Senate instructions. The House instructions remain vague, though you can review this spending by committee breakdown to learn more.
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Courtesy of NASE.org https://www.nase.org/about-us/media-relations/nase-in-the-news/2021/09/24/infrastructure-reconciliation-debt-ceiling-will-make-fall-very-busy