House Speaker Paul Ryan said Thursday that the plans to bring a budget for fiscal 2018 to the House floor next week.
This would be an important step toward passing a tax bill, since the budget will contain the necessary instructions for how to proceed with respect to spending and revenue targets. As The Hill puts it, at this point, “the budget's main purpose is a vehicle to unlock reconciliation.”
House Ways and Means Chairman Kevin Brady (R-TX) made the importance of this step clear in July when he said, “Clearly, no budget, no tax reform.”
