Dear Association Executives - This morning, the House of Representatives passed the Build Back Better Act, a $1.7 trillion-dollar social spending package. You can view the bill text here, and a section-by-section summary here. While the Senate is likely to modify the bill significantly, we want to provide a snapshot below of where everything currently stands.
Key Provisions Passed in the House Version:
Read this report for a comprehensive breakdown of these proposed policies.
The reconciliation measure now heads to the Senate, where further modifications to the legislative text are likely to occur. The Senate Parliamentarian's office is expected to begin reviewing the bill as soon as it is formally reported. Anything found in violation of the chamber's Byrd rule - which bans provisions that are viewed as "extraneous" to the budget from being tacked onto reconciliation bills - will be struck from the legislation. Additional tweaks may also be needed to appease Sens. Joe Manchin (D-WV) and Kyrsten Sinema (D-AZ), who have expressed uneasiness with a larger spending package due to underlying economic concerns.
Please don't hesitate to reach out with questions. If we don't hear from you prior to our next meeting, we hope you enjoy a wonderful Thanksgiving celebration.