Budget plan with dueling tax, spending targets OK’d in Senate
Collins is up for reelection in 2026 in a Democratic-leaning state. No Democrats voted for it.
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Collins is up for reelection in 2026 in a Democratic-leaning state. No Democrats voted for it.
Former Senate Republican leader Mitch McConnell’s announcement last Thursday that he will not run for reelection in 2026 had us dipping into our archives. And dipping into the inkwell.
The letter was signed by seven other Republicans — including five eligible to vote on the House floor — and including some likely to face tough races in 2026.
She is the first former Biden Cabinet secretary to formally announce a 2026 campaign, but at least two others are considering bids.
Details As currently drafted, the blueprint calls for raising the $36.1 trillion debt limit by $4 trillion, which could put off the next battle over the federal borrowing cap until after the 2026 midterms
The Senate plan is to take up a separate fiscal 2026 budget resolution after the initial reconciliation package is signed into law that would lay the groundwork for the more complex tax bill.
Senate Republicans are aiming for a second budget resolution, starting with fiscal 2026, later this year that would contain reconciliation instructions for the expected tax package.
Blue states and Blue Dogs: Meanwhile, in the House, ideological divisions and new district lines are some of the factors shaping the 2026 landscape.Â
The bill introduced Thursday would set a binding plebiscite vote for November 2025, with a runoff set for March 2026 if no majority is reached.
that would lower insulin costs by providing $3.1 billion to help federally qualified health centers cover the direct costs of discounted insulin and epinephrine for qualifying patients through fiscal 2026
$54 billion in five-year grants for semiconductor manufacturing and research as well as 5G wireless deployment, a 25 percent tax credit for investments in semiconductor manufacturing facilities through 2026
grants over five years for semiconductor manufacturing and research, along with 5G wireless deployment; a tax credit covering 25 percent of spending on new semiconductor manufacturing plants through 2026
in grants over five years for semiconductor manufacturing and research along with 5G wireless deployment; a tax credit covering 25 percent of spending on new semiconductor manufacturing plants through 2026
Schumer pledged to move ahead with a procedural vote Tuesday afternoon on legislation that would, at minimum, fund semiconductor manufacturing grants and tax incentives through 2026.Â
In 2026, individual income tax provisions from Republicans’ 2017 tax overhaul would expire, shifting impacts again.
Now the bill includes a one-year expansion and almost $4 billion available through 2026 for the IRS, along with another $1 billion for the Treasury Department to support enrollment and administration
Schumer, D-N.Y., floated Tuesday to eliminate the cap completely for five years but then reinstate it in 2026 at the old $10,000 figure.
Spending drops sharply after 2026, when only full refundability would remain in place. About $13 billion of that cost would be for keeping it fully refundable in the second half of the decade.
, the CBO said if current laws generally remain unchanged, debt as a share of the economy will fall slightly from an estimated 102.3 percent of GDP in fiscal 2021 to slightly less than 101 percent in 2026
To offset some of the added cost, the compromise amendment would extend a limit on losses some business owners can claim against other income for an extra year, through 2026.