The Senate Republicans continue to meet internally and with stakeholders regarding the provisions of a reconciliation package (H.R. 1). Senate Majority Leader John Thune (R-SD) made it clear that the Senate will make...more
House Passes Reconciliation Package, with Senate Expected to Make Changes: On May 22, the House of Representatives passed H.R. 1, “The One, Big, Beautiful Bill Act,” legislation authorized under the FY 2025 concurrent budget...more
On May 22, the House of Representatives passed H.R. 1, “The One, Big, Beautiful Bill Act,” legislation authorized under the FY 2025 concurrent budget resolution (H. Con. Res. 14). The bill includes a broad range of...more
On May 22, the House of Representatives passed H.R. 1, “The One, Big, Beautiful Bill Act,” legislation authorized under the FY 2025 concurrent budget resolution (H. Con. Res. 14). The bill includes a broad range of...more
On Monday, May 12, House Ways and Means Committee (“Committee”) Chairman Jason Smith (R-MO) released text of the Committee’s tax title for the FY 2025 budget reconciliation bill—the amendment in the nature of a substitute...more
On Monday, March 11, President Joe Biden released his budget request to Congress (“Budget”) and various accompanying documents. Separately, the Treasury Department released its General Explanations of the Administration’s...more
Earlier today, the White House released its fiscal year (FY) 2025 budget request to Congress. Overall, it proposes $7.3 trillion in total spending, including a proposed $895 billion for defense and approximately $621 billion...more
President Joe Biden delivered his third State of the Union address on March 7, emphasizing the tax-policy priorities that will continue to take center stage in his ongoing presidential campaign. Similar to last year’s...more
As Congress heads into 2024 and President Biden starts the last year of his term, a host of tax issues remain unaddressed, including a much-anticipated expiring tax provisions package, pending regulatory guidance, the outcome...more