Update: The House of Representatives passed (by a vote of 218-214) the budget reconciliation bill (H.R. 1, the "One Big Beautiful Bill Act") on July 3, 2025. The bill now goes to the President for signature....more
On May 14, 2025, the House Committee on Ways and Means advanced its budget reconciliation bill containing numerous tax reform provisions. Below are our summaries of the proposed amendments to certain tax credits under the...more