Senate Budget Committee Chairman Lindsey Graham (R-SC) has released an updated version of the Senate’s fiscal year 2025 budget resolution that, if adopted, would unlock the pathway for reconciliation legislation to implement some of President Trump’s domestic policy agenda. In a new insight, Director of Fiscal Policy Jordan Haring discusses the budget’s use of a “current policy” baseline, key numbers, and key issue areas the budget would address in reconciliation, including border security, energy policies, and the expiration of the 2017 tax cuts.

She concludes:

The updated Senate budget resolution shows that the House and Senate are still on very different pages over how to enact President Trump’s agenda. These differences will need to be resolved in conference or amendments between the House and Senate.

Read the analysis.