Budget Resolutions, Reconciliation Not Likely to Advance Tax Overhaul

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March 19 — Differing budget reconciliation instructions advancing in the House and Senate don't pave a clear path to overhauling the U.S. tax code this year.

Vague guidance, brief timing and the potential for partisanship produced skepticism among lawmakers and others after the House and Senate Budget Committees approved their budget resolutions March 19. The two chambers are expected to vote on their respective budgets the week of March 23.

Since they provide a platform for political messaging but aren't legally binding, legislators offered little evidence that the measures would help advance their tax proposals.