Tax Notes | House Looks to Assert ‘First Mover’ Status on Tax Bill

Congress returns this week after the historic shutdown with a full agenda, including decisions on FY 2026 funding and expiring health insurance tax credits. The House will take up Congressional Review Act resolutions, District of Columbia justice measures, and a liquefied natural gas bill, while the Senate begins work on the next appropriations package.

With their work completed on the reconciliation and recissions bills, Senate and House leaders look this week to continue their progress on a slew of appropriations packages for the 2026 fiscal year. The two chambers have yet to agree on top-line spending numbers, making it likely another continuing resolution will be needed to prevent a partial government shutdown on September 30.

The Senate this week will continue work on pushing through the House-passed recissions package, containing $9.4 billion in funding clawbacks. In the House, lawmakers will take up several crypto-related bills, including Senate-passed legislation to establish a regulatory framework for stablecoins. On Monday, President Trump is scheduled to meet with NATO Secretary General Mark Rutte to discuss the war in Ukraine.

After last week’s enactment of the Trump Administration’s “big, beautiful” reconciliation bill, the Senate continues its work on pushing through a $9.4 billion package of clawbacks in funding for foreign aid and public broadcasting. Congressional leaders now plan to turn their attention to fiscal year 2026 appropriations, although the chambers have yet to agree on top-line numbers.

This week, Congress passed the One Big Beautiful Bill Act in a 51–50 Senate vote and a 218–214 House vote, sending it to the President for his signature, and CMS released new home health and end-stage renal disease proposed payment rules.