Special Report: The Budget Resolution

What are some specifics of the joint resolution moving through Congress? How could the budget plan potentially affect our nation?

Hello readers,

We have decided to release a short primer about what’s in the Continuing Resolution, or budget proposal, moving through Congress.

This is by no means an exhaustive review of H.Con.Res. 14, but it does cover some of the biggest tax policy updates, as well as some spending adjustments the US Government will likely have to make, such as slashing public programs like SNAP (food stamps) and Medicaid [2]. Also, some of the elements discussed below are not part of the continuing resolution yet, but have been discussed as part of Trump’s broader “One Beautiful Bill” plan (like the no tax on overtime or tips element).

Congress must pass their resolution by March 14, 2025 to avoid a government shutdown.

Table of Contents

1. Tax Policy Updates

   1. Solidification of the Tax Cuts and Jobs Act (2017)

      1. Benefits for Everyday Americans

      2. Benefits for Business

      3. Benefits for High Earners

2. Social Program Cuts

   1. Medicaid

   2. SNAP (Food Stamps)

Before we get started, a quick note to our readers: If you happen to b…