Republicans hold a narrow House majority and have advanced a budget resolution in late July 2026 that sets instructions for a third reconciliation package focused on defense funding, agriculture aid, and election-related provisions. This step followed the June passage of Reconciliation 2.0 for border enforcement and occurred amid ongoing internal GOP divisions over offsets and spending levels. The Senate has shown reluctance to move quickly on the framework due to concerns about pay-fors and timing before the November midterms, while both chambers face a September 30 fiscal deadline that could force attention to appropriations instead. These dynamics, combined with the August recess and limited remaining legislative days, shape trader assessments of whether the House can complete another reconciliation bill in the current Congress.