Congress Moves Ahead with FY18 Budget, Paving Way for Appropriations to Follow in Early to Mid-December

Last Thursday, October 26, 2017, the U.S. House of Representatives narrowly approved (216-212) a $4 trillion Senate fiscal year 2018 (FY18) budget bill potentially clearing the way for completion of the FY18 Appropriations process and opening the door for a major rewrite of the federal tax code.  While most of the press over the weekend focused upon the ability of the legislation to enable Republicans to begin work on a $1.5 trillion tax cut, a top item on the GOP agenda, completion of the legislation also provides a roadmap for federal spending and $5 trillion in spending cuts over the next decade, including potentially critical cuts to a multitude of non-defense, discretionary programs like Medicare, Medicaid, and Education.