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Budget resolution requires natural resource committees to find $1 billion in increased revenue
On October 19, the Senate passed a fiscal year (FY) 2018 budget resolution (H.Con.Res.71) with an amendment in the nature of a substitute (S.Amdt.1116), which sets the stage for passing tax reform legislation. Part of the Senate amendment includes instructions for both the House Committee on Energy and Commerce and the Senate Committee on Energy and Natural Resources to write legislative recommendations by November 13 that would result in $1 billion in new revenue over ten years to offset federal tax cuts.