House Budget Committee Passes Budget Resolution
Posted On
February 20, 2025
The new budget resolution passed by the House of Representatives Budget Committee includes a minimum of $1.5 trillion in spending cuts across committees, with a target of $2 trillion; a $4.5 trillion cap on the deficit impact of the plan to extend the 2017 tax cuts; and an incremental $300 billion for the border and defense. The resolution increases the debt limit by $4 trillion. The resolution still needs to pass in the House of Representatives.
Read more: House GOP budget resolution in jeopardy amid concerns from moderates →