Republican control of the House, Senate, and White House has enabled repeated use of the budget reconciliation process to advance spending and policy priorities on a simple-majority basis. Following enactment of the 2025 One Big Beautiful Bill Act and a narrower FY 2026 package funding immigration enforcement, the House Budget Committee advanced a new budget resolution in mid-July 2026 outlining roughly $95 billion in additional reconciliation instructions, including defense, intelligence, and farm relief provisions. This step sets up committee drafting and potential floor consideration, though Senate negotiations and narrow Republican margins could influence timing before the August recess or fall session. Trader focus centers on whether these instructions translate into House passage of a third bill by the market’s deadline.