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In his State of the Union address last week, President Trump did not propose many new tax or spending measures. However, he did call for legislation that is unlikely to pass with bipartisan support, including the healthcare package he unveiled on January 15. 

Both Leader Thune and Speaker Johnson have warned that it will be challenging for the Republicans to pass a partisan tax and spending bill this year through the budget reconciliation process. However, if such a bill included provisions to reinstate some of the President’s tariffs that were struck down by the Supreme Court, it could generate significant revenue to offset new tax cuts. Leader Thune has tasked his committees with developing ideas for a second reconciliation package.