Budget reconciliation bills are a unique legislative process in Congress that allows for expedited passage of certain budget-related measures. For a reconciliation bill to become law, it must pass both the House of Representatives and the Senate, often requiring only a simple majority in the Senate rather than the usual 60 votes to overcome a filibuster. These bills are typically used to address spending, revenue, and debt limit provisions. This market focuses on whether any reconciliation bill will successfully pass both chambers of Congress and be signed into law by the President before July 1, 2025.