The housing development SAVE America Act, the ban on stock trading and the shutdown bill

Sen. John Warner, R-Va., said to me once that “we don’t do much in Congress. But when we do, we do it all at once.”

That’s kind of where we get the House of Representatives today.

Today is the last day in the House before the August break. In fact, the House may not exist at all until after the election.

So the House is trying to focus EVERYTHING today.

HOUSE GOP VOTE FOR GOVERNMENT SHUTDOWN AFTER NOVEMBER NEWS

Let’s start with what the House approved last night. It approved a bill to implement the stopgap, which restores all funds to current levels to avoid the stopgap closing in October. The bill will run until Dec. 4.

Conservatives liked the bill because it “sort of” saves money by simply renewing current spending. Naturally, these short term loans do just that. They do not add to the new spending. So – in a way – that kind of holds the financial bottom line.

But what comes over all is the touchstone of the GOP agenda. That is the law of SAVE America. The House today plans to move forward on a budget proposal and may introduce the SAVE America Act at a later date. The Senate must also adopt a similar framework to enable it to use a special budget reconciliation process – immune to filibusters. But the House and Senate can’t get to the meat and potatoes of the bill without adopting a draft. That is why today is so important.

What’s in “Reconciliation 3.0?” House Republicans will likely drop the SAVE America Act in the original bill. They will also load this bill with tens of billions to cover the war on Iran and re-arm the Pentagon. Funding for agricultural programs will be there, too.

SENATE’S EXCUSES END PUBLIC IN GOVERNMENT ATTACKS THROUGH BIPARTISAN PUSH

Representative Steve Scalise, R-La., and Speaker Mike Johnson, R-La., attend a news conference at the US Capitol in Washington, DC, on Tuesday, June 30, 2026. (Graeme Sloan/Bloomberg via Getty Images)

But here’s the rub. House and Senate Republicans are not on the same page. Senate Majority Leader John Thune, RS.D., says his body will likely consider the House-approved federal funding plan. But that requires 60 votes and is subject to a filibuster. Most Democrats will reject the House interim spending plan since they were not involved in writing it.

But that’s where Reconciliation 3.0 comes in.

“We will hold that, obviously, to be able to submit a continuing resolution to support the government. It is possible, that if necessary, we can withdraw that, the budget resolution passed by the House and use it to support the government,” said Thune when pressed by yours truly yesterday.

In other words, the Senate won’t be taking up the House’s Reconciliation 3.0 plan anytime soon. Many Senate Republicans have been cool to another reconciliation plan from the start. But Thune knows Senate Democrats will reject the House spending bill. So he can use a reconciliation package to bypass the Democrats and fund the government this fall.

Remember that reconciliation is NOT subject to filibuster. Therefore, 60 votes are not required.

TRUMP JOINS IN AS HOUSE GOP REVOLT PUTS SAVE AMERICA ACT IN TIME WASTE

However, this is something of a negotiation strategy for Thune. You know that Democrats don’t want Republicans to pass their spending plan through budget reconciliation. He also believes that resorting to reconciliation to pass appropriations bills to keep the government open is a bad example. So, you will catch the ball for now.

This means that the money to consolidate the finished programs and pay for the war in Iran has been stopped for months. Maybe until at least December. That could be a problem for the Pentagon if the dispute moves forward.

Senate Majority Leader John Thune, RS.D., speaks during a press conference for Senate Republicans at the US Capitol on June 2, 2026, led by Sen. James Lankford, R-Okla., and Sen. Shelley Moore Capito, RW.Va. (Bill Clark/CQ-Roll Call, Inc)

Finally, the House plans to vote on a separate bill today to bar its members from trading. Congress passed – and President Obama signed into law – the STOCK Act 14 years ago. That law prohibits lawmakers and aides from using “inside information” gathered on the job to game the market.

However, today’s bill goes a step further. It completely prohibits members of the House from trading stocks.

House Minority Leader Hakeem Jeffries, DN.Y., opposes this version of the bill. That’s because he wants a statewide ban on bump stocks. But that is not what the House is prepared to deal with today.

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So this is the most important day in the house. Iran war money and the SAVE America Act are interchangeable.

And if you want to understand what Congress might face this fall, today’s action will give you a clue.