Reconciliation Update: House and Senate Agree to Narrowed Budget Blueprint
By Hugh T. Ferguson, NASFAA Managing Editor
Both chambers of Congress have now agreed to the same budget blueprint, which unlocks the next phase of the reconciliation process; drafting legislative text and directing committees to find roughly $4 billion in spending cuts over a decade.
This topline is more in line with the Senate’s initial budget blueprint as opposed to the House’s original plan which called for $1.7 trillion in spending cuts and $4.5 trillion in tax cuts, and allows for a $2.8 trillion increase in primary deficits over the 10-year budget window from fiscal year (FY) 2025 to FY 2034.
The Senate’s initial proposal would have allowed for up to $175 billion of new funding for border security and immigration enforcement. It also directed Congressional committees to find at least $4 billion in spending cuts, $1 billion specifically for health, education, and labor programs.
The Senate agreed to the updated budget blueprint by a vote of 51-48 while the House vote was 216-214.
For more information on the reconciliation process check out NASFAA’s deep dive on what the process might mean for higher education policy.
Publication Date: 4/11/2025
Nedi G | 4/11/2025 1:39:50 PM
If anyone has modeled what the elimination of PLUS loans would do to their institutions' enrollment, net tuition revenue and is able to share it, please help. Have no idea how to convert PLUS credit approval rates into qualifying for private student loans alternative.
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