Republican majorities in both chambers of Congress have enabled use of the budget reconciliation process to advance spending, revenue, and debt-limit measures with a simple majority vote, bypassing the filibuster. The Senate most recently passed the Secure America Act reconciliation package in early June 2026, providing roughly $70 billion for immigration enforcement through fiscal year 2029. Subsequent discussions of a follow-on package, sometimes called Reconciliation 3.0, have centered on defense supplemental funding, tax provisions, and agricultural relief, yet Senate Republicans have shown limited momentum amid internal disagreements over priorities and offsets. The House advanced a new budget resolution in July, but the Senate has taken no floor action on another reconciliation measure. With the legislative calendar compressed ahead of the November midterms and a short lame-duck session afterward, traders assess the prospects for additional Senate passage this year as constrained by competing must-pass items such as appropriations and the farm bill.