Short Congressional Recess, Short Preview
While Congress is in recess this week, we are still on reconciliation watch as consideration of the One Big Beautiful Bill Act moves to the Senate. We are on the lookout for a printed version of the full bill as it was passed (we currently only have this Rules Committee version of the package and the separate manager’s amendment). We are also waiting for an official, complete score from the Congressional Budget Office, which will affect Senate consideration.
Over the weekend, House Speaker Mike Johnson made pleas for the Senate not to make significant changes to the bill since it will be difficult to get through the House again. But we can anticipate that the Senate will insist on putting its mark on the package. This week we will watch for signs of Senate Republican agreement around new or adjusted bill provisions. We know they have thoughts on tax; however, it is less clear how many changes are coming in healthcare.
We will also be watching for additional administrative input on reconciliation, potentially seeing the president’s full fiscal year 2026 budget (in follow up to the “skinny budget” released earlier this month), or any number of other regulations, executive orders, or unanticipated activities.
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