The House Budget Committee yesterday passed the Sequester Replacement Reconciliation Act, which included budget reconciliation language reported by the House Ag Committee and five other House committees.A quick guide to the budget process lingo:
Reconciliation is a budgetary process where the Budget Committee requires a legislative committee to develop language to meet specified spending goals within a Congressional Budget Resolution. Sequester is an across-the-board cut to meet the requirements of the 2011 Budget Control Act package passed by Congress. If Congress does not meet a 10-year, $1.2 trillion reduction in the federal deficit through the normal budget process, then the $109 billion will be cut through sequester on 2 January...
What You Need to Know Today: Cattle futures extended their sharp selloff Friday as weakening cash cattle prices, deteriorating feedlot profitability, and reduced packer demand continued to weigh on the market. The inability of futures to sustain a rally following last week's bullish Cattle on...
As predicted, the Federal Reserve held rates steady at the last meeting before the midterm elections, likely in part because of the election (see WPI 19 October and 22 September). The decision comes at the tail end of a midterm election cycle that has been marked by the two parties campaigning...
Key Takeaways: The tariff burden rose sharply in 2025 and 2026: the effective rate on imports in HTS Chapters 1–24 increased from 1.53 percent in 2024 to 6.11 percent in 2025, before averaging 5.68 percent in January–August 2026. Headline rates tell only part of the story: exemptio...
