1、Congressional Research Service The Library of CongressCRS Report for CongressReceived through the CRS WebOrder Code RS22322Updated June 9, 2006Taxes and Fiscal Year 2006 BudgetReconciliation: A Brief SummaryDavid L. BrumbaughSpecialist in Public FinanceGovernment and Finance DivisionSummaryOn April
2、28, 2005, Congress approved a FY2006 budget resolution (H.Con.Res.95) with reconciliation instructions calling for tax cuts of $11 billion in FY2006 and $70billion over five years. Congress began consideration of the tax-reduction reconciliationlegislation as 2005 drew to a close. On November 15, th
3、e House Ways and MeansCommittee and the Senate Finance Committee approved separate tax-cut proposals asH.R. 4297 and S. 2020, respectively. The full Senate approved a slightly modifiedversion of S. 2020 on November 18; the House passed H.R. 4297 on December 8. OnFebruary 2, 2006, the Senate approved
4、 H.R. 4297 after amending it by replacing thecontents of the House-passed bill with those of S. 2020. An important part of both theHouse- and Senate-passed bills was the extension of numerous temporary, tax-reducingprovisions that are scheduled to expire at various times over the next several years.
