As the year closes, Republicans are looking to the past for another dance with a partisan exercise that tested the party’s unity and delivered President Donald Trump his crowning legislative achievement of the year. Budget reconciliation is how congressional Republicans rammed through Trump’s “big, beautiful bill,” earlier this year. But it’s a time-consuming, labor-intensive process that laid bare intra-party divisions and nearly exploded before liftoff. Still, some Republicans...

Obamacare subsidies that have dominated the conversation on Capitol Hill are set to expire after Congress failed to act, but a cohort of bipartisan senators are quietly working to find a solution for when lawmakers return next year. It has engulfed Congress since September and played a starring role in the longest-ever government shutdown. And both Republicans and Democrats tried, and failed, to pass their partisan plans to...

As President Donald Trump rolls out his TrumpRx proposal to cut prescription drug prices, economists are raising questions about what happens when prices are capped and whether short-term savings for consumers come at the expense of future medical breakthroughs. On Friday, Trump announced deals with nine pharmaceutical companies to lower prices on certain medications for Americans, along with $150 billion in promised new investments in domestic manufacturing and...