As previously reported, Congress has been considering financing Trade Adjustment Assistance (TAA) reauthorization legislation in part through future Medicare provider cuts. Specifically, as approved by the Senate on May 22, 2015, H.R. 1314 would apply a 0.25% across-the-board cut, known as sequestration, to Medicare provider and plan payments during the second half of FY 2024, when current sequestration authority is scheduled to expire. The Congressional Budget Office estimates that the sequestration extension would reduce Medicare payments by $700 million. Bipartisan House leaders subsequently crafted an alternative financing plan to replace the Medicare sequestration provision through a separate trade bill (Trade Preferences Extension Act of 2015), which was approved by the House on June 11, while the underlying TAA reauthorization bill was rejected by the House on June 12 during complicated parliamentary proceedings. The fate of the trade legislation is still unresolved, but for now the House has rejected Medicare sequestration extension as part of the trade package.