The start of the 119th Congress is underway and leadership in both chambers has been set. Speaker of the House Mike Johnson (R-La.) was reelected to lead the lower chamber, while Senator John Thune (R-S.D.) was elected to lead Republicans in the Senate.
In the House of Representatives, Republicans will once again hold a narrow majority, and finding agreement among the various factions of the party will make being Speaker of the House the hardest job in Washington. In the Senate, while Republicans hold a 53-47 majority, it is still short of the 60-vote threshold to file cloture.
Congressional Republicans and President-elect Trump have made clear their priorities on tax reform, domestic energy exploration and production, and border security. Given the narrow margins in each chamber, they will utilize a process called budget reconciliation to pass these measures. In using budget reconciliation – intended for tax, spending, and debt legislation – it allows these measures to pass the U.S. Senate with a simple majority and cannot be filibustered. How will they get agreement? When will these legislative priorities pass? Stay tuned. As always, AGC will keep you updated on the latest.
For additional information, please contact Alex Etchen.