Given that the House did not want to be stuck with the Senate version closing the deal had to be done. The Budget Committee is currently meeting to pass this out of Committee and send it to the House Floor for a full vote. The whole goal is to race and beat the Senate to establish their wishlist and not be caught lacking.
Under the agreement, Arrington would be able to adjust the spending cuts floor and tax impact cap when crafting the budget reconciliation package. Harris said “the traditional mechanism of a reserve fund” will enable those changes to allow the chairman to “adjust the dials.”For example, with the deficit reduction floor set at $1.5 trillion and a target of $2 trillion, if committees find $2.5 trillion in reductions, Arrington can allow Ways and Means to design policies that raise its deficit increase allowance from $4.5 trillion to $5 trillion — enabling the committee more flexibility to address Trump’s demands for tax cuts.Importantly, Harris said the amendment would also require the budget chairman to lower deficit increase allowances for the tax portion if that $2 trillion target is not reached, meaning the allowance for tax cuts and other priorities would be curtailed.