Reconciliation bills are a key tool for advancing budget-related legislation in Congress, addressing issues such as spending, revenue, and the federal debt limit. These bills are designed to expedite the legislative process, requiring only a majority vote in the House. They typically begin with the phrase: "To provide for reconciliation pursuant to..." and are closely tied to budget resolutions passed earlier in the legislative session. This market focuses on whether the House of Representatives will pass a reconciliation bill before May 1, 2025.