This will be a year of two budgets, as Congress and the new Trump administration wrap up leftover business for fiscal 2017, which began last October, and run through a full process for fiscal 2018.
The fiscal 2017 process was left unfinished last year, with only one of the 12 spending bills signed into law and the rest of the government operating under temporary funding through April 28. The House and Senate didn’t act on a fiscal 2017 budget resolution last year, but adopted one this January to set up debate on filibuster-proof “reconciliation” legislation to repeal key parts of the Obamacare law, which also could include some replacement provisions.
As with most new administrations, Donald Trump will submit his first budget request later than the statutory deadline of the first Monday in February. The submission of that document will kick off the fiscal 2018 process, with debate on another budget resolution, a potential second round of reconciliation dealing with taxes and mandatory spending, and action on 12 spending bills.
Join Bloomberg Government experts and several former members of Congress as they help untangle it all and offer a preview of what’s ahead.
