Recently, the House Budget Committee released a 50-page document that identifies options to cut spending or increase revenue through reconciliation. It also includes some proposals that would increase spending. In some cases, the document includes budget estimates. This brief details selected options that fall within the following four categories:
- Rescind Inflation Reduction Act (IRA) funding
- Repeal tax credits that encourage renewable energy, energy efficiency, electric vehicles (EVs), etc.
- Prioritize domestic fossil fuel production
- Expedite permitting processes across various project types
Additionally, the final section addresses miscellaneous proposals, including those targeting immigration and regulatory reform. All of the savings and costs referenced herein will occur over the next 10 fiscal years. For additional information on the reconciliation process and its rules, see FFIS Budget Brief 25-01.