Tax Notes | Senate GOP Argues Budget Chair Has Final Say on Scoring Tax Bill

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.

Senate Republicans expect to begin wrapping up the upper chamber’s revisions to the reconciliation bill passed by the House. While members still differ over the package’s overall size, Medicaid cuts, the SALT deduction cap, and ending the renewable energy tax credits, the GOP leadership hopes to begin floor votes later this week.

As Senate committees continue to work on their portions of the reconciliation bill, the House will take up a White House proposal to axe $9.4 billion in spending. GOP leaders remain hopeful to have a bill ready by July 4, but differences remain over tax cuts and reductions in Medicaid spending. In London, U.S. and Chinese officials will meet to discuss the countries’ ongoing trade issues.

Senate Republicans will begin work this week on the House-passed reconciliation package. While some Senators said the bill does not contain enough spending cuts, others expressed concerns over the reductions in Medicaid spending and repeal of the clean-energy tax credit. GOP leaders hope to have a bill ready for President’s Trump’s signature before the July 4 recess.

This week, House Republicans will step up their efforts to get the President’s reconciliation package ready for a vote before Memorial Day. As the bill winds its way through various committees, GOP leaders have reportedly agreed to accelerating proposed Medicaid work requirements and the phaseout of clean energy tax credits. Differences remain over changes to state and local tax deductions.