Occasionally, a majority party in Congress may opt to use a process known as “budget reconciliation” to enact changes to the tax code, which allows certain legislation to advance through the Senate on a simple majority vote.
Whether you're advising clients, managing compliance or monitoring potential tax policy changes, understanding how budget reconciliation shapes tax legislation is essential. These FAQs provide CPAs with the context needed to follow developments, evaluate potential impacts and respond with confidence.
Note: Budget reconciliation