What does the House-passed budget resolution mean?

The House of Representatives narrowly passed a budget resolution last month that included a framework for trillions of dollars of tax cuts and government spending cuts. Over the coming months, the House and Senate will try to agree on a common budget resolution. We asked Doug Elmendorf—the Lucius N. Littauer Professor of Public Policy, former director of the U.S. Congressional Budget Office, and former dean of HKS—to explain what the House-passed budget resolution contains, what the implications are, and what happens next.