Each week while Congress is in session, our Policy team delivers a key update to highlight a topical benefits, health, or retirement news item from the Hill, such as a newly introduced bill, a summary of a committee hearing, or another hot-button matter.
On March 8, House Republicans released a stopgap spending bill, known as a continuing resolution (“CR”). Current funding legislation expires on March 14, and this CR would keep the government operating until the end of the federal fiscal year on September 30. The House is expected to vote on the CR on March 11. It would then go to the Senate for a vote. The CR would largely continue funding at current levels without making major policy changes. Meanwhile, Congressional Republicans continue to work on a budget resolution to provide reconciliation instructions intended to, among other things, extend the expiring provisions of the Tax Cuts and Jobs Act. The budget resolution passed by the House on February 25 directs the Energy and Commerce Committee to develop legislation to reduce spending within the Committee’s jurisdiction by $880 billion. Democrats have argued that the Committee cannot meet this target without reducing funding for Medicaid and the Children’s Health Insurance Program, an argument which got some support from an analysis by the Congressional Budget Office (“CBO”). House Speaker Mike Johnson (R-LA) and others have said there would be no cuts to Medicaid benefits and that any savings would come from eliminating waste, fraud, and abuse from the program. Changes to federal health spending often impact state governments, so the National Governors Association released a statement seeking “a seat at the table when discussing any reforms and cuts to Medicaid funding.” Ways and Means Committee Chairman Jason Smith said he wants the reconciliation bill to President Trump’s desk by Memorial Day and urged the Senate to work quickly. However, the Senate has taken a different approach to budget reconciliation to date and still favors a two budget resolution approach in which the consideration of tax policy changes would be deferred until later in the year.
