House Ways and Means panel reviews FY2026 budget draft; adds surplus carve‑out for suspended earmarks

The House Committee on Ways and Means reviewed the fiscal year 2026 budget draft and debated revenue assumptions, suspensions of earmarks and a contingency to permit first‑quarter allotments if a proposed MPLT loan is not finalized by Oct. 1, 2025. The committee chair also read a newly inserted provision that would allow any excess collections above the Department of Finance’s April 1, 2025 projection to be transferred automatically to beneficiary agencies rather than remain suspended.

The discussion matters because the committee’s draft sets the baseline general revenues available for appropriation, determines whether longstanding earmarked funds are temporarily redirected to the general fund, and includes a contingency allowing agencies to receive advance allotments if external financing (the MPLT loan) does not take effect by the fiscal‑year start. Those choices affect agency operations, public‑health programs funded by earmarks, and the timing of disbursements for government services.

Committee members reviewed the bill title and standard sections and then moved through key provisions. Under section 201 (estimated revenues) the…