Marc Gerson, former chief tax counsel to the House Committee on Ways and Means, noted that while both the House and Senate have passed budget resolutions, they must agree on a concurrent resolution to unlock the budget reconciliation process. He highlighted the House's $4.5 trillion tax package, which includes Tax Cuts and Jobs Act (TCJA) extensions, but warned it may not be enough to cover the permanency of the TCJA, other expiring provisions, and President Trump's campaign promises, such as eliminating taxes on tips, Social Security, and overtime pay. Gerson identified extending the "Big Three" business extenders as a top priority but flagged uncertainty over whether they will be applied retroactively. He also noted that Trump's proposal for a retroactive effective date of January 20, 2025, could complicate efforts, as it departs from the standard calendar-year application of tax bills.