The Senate and House have each passed their separate operating budget proposals. They do not differ significantly from the versions proposed by the committee chairs. (For more on the original proposals, see our side-by-side.)

The Senate-passed operating budget for 2025–27 would appropriate $78.475 billion from funds subject to the outlook (NGFO). That is $5.3 million higher than had been proposed by the Senate Ways & Means Committee Chair. It is $6.530 billion (9.1%) higher than enacted 2023–25 appropriations.

An amendment was adopted on the Senate floor that would establish a voluntary disclosure program for entities engaged in investment activities that are not banking, lending, or security businesses “for the purpose of registering and collecting revenue due from businesses.” The outlook assumes that this would increase resources by $50 million in 2025–27. The Senate-passed budget would leave estimated unrestricted NGFO ending balances of $120 million in 2025–27 and $4.656 billion in 2027–29.

The House-passed budget would appropriate $77.755 billion from the NGFO, which is $3.5 million less than had been proposed by the House Appropriations Chair. It is $5.809 billion (8.1%) higher than enacted 2023–25 appropriations. There is not yet an updated outlook reflecting the amendments adopted by the House.

For the 2025 supplemental budget, the Senate would increase 2023–25 appropriations by $1.157 billion (1.6%) and the House would increase appropriations by $746.0 million (1.0%).