House Financial Services committee advances reconciliation committee print after daylong markup; key votes postponed

The House Financial Services Committee on Thursday conducted a daylong markup of a reconciliation committee print intended to identify at least $1 billion in savings under the FY25 budget resolution, discussing sweeping changes to housing, consumer-protection and financial‑oversight programs.

Chairman Hill opened the session by framing the markup as a fiscal exercise tied to the budget resolution, saying, “Today, we are undertaking the work assigned to us under the FY 25 budget resolution.” He described the committee print as a tool to rescind unobligated balances and limit certain agencies’ carryover authorities in order to achieve the instructed savings.

The committee considered an amendment in the nature of a substitute as the base text and debated a wide range of member amendments. Ranking Member Representative Maxine Waters repeatedly pressed the panel to preserve spending for housing, consumer protection and other programs; Waters called for votes on measures to preserve emergency housing vouchers and other housing investments.

Several procedural motions and recorded votes punctuated the day. Early in the session members voted to table Representative Waters’s attempt to force immediate consideration of a…