House and Senate budget resolutions: Tax policy insights

House and Senate budget resolutions: Tax policy insights

Join us for a special episode of the Tax News & Views podcast as we explore the recent budget resolutions passed by the House and Senate. Host Carrie Falkenhayn is joined by Deloitte’s Washington National Tax practice leaders Jonathan Traub and Anna Taylor for an in-depth analysis of the legislative process, the key differences between the House and Senate approaches, and the potential impact on future tax legislation. Together, they cover the complexities of the budget reconciliation process, the major policy changes that could be forced, and what to watch for, including caps on corporate SALT (State and Local Tax) deductions, a repeal of the employee retention tax credit (ERTC), repeals of various Inflation Reduction Act (IRA) credits—and President Trump’s influence on process questions. Find out what to expect in the coming months as lawmakers work to reconcile their differences and move forward with important tax policy changes.

It’s important to understand that before you can move budget reconciliation, which is the legislative policy text, the House and Senate each need to agree on identical budget resolutions that specify levels of spending and revenue.

                                                                                                     — Jonathan Traub

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