Revenue Reconciliation Act

The Revenue Reconciliation Act is a U.S. law aimed at reducing the federal budget deficit by adjusting government revenues and expenditures. It typically involves changes to tax policies, such as increasing or decreasing taxes, and may also include adjustments to government spending programs. The act is designed to ensure that the government's income matches its spending, helping to stabilize the economy. It often emerges in response to economic conditions and aims to promote fiscal responsibility while addressing various social and economic needs.