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Taxation & Representation, June 2025 #3

Senate Finance Tax Title Goes Through ‘Byrd Bath’: Senate Parliamentarian Elizabeth McDonough has initiated the Byrd Bath process for the Senate Finance Committee’s (SFC) tax title within the reconciliation package. Senate...more

Senate Finance Committee Tax Title – Summary and Analysis

On June 16, Senate Finance Committee Chairman Mike Crapo (R-ID) released text of the committee’s tax title for the Senate’s fiscal year (FY) 2025 budget reconciliation bill. The Finance Committee’s tax title (Title VII) makes...more

Taxation & Representation, June 2025 #2

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

Taxation & Representation, June 2025

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

Senate Health, Education, Labor and Pensions Committee Reconciliation Bill Summary

Earlier today, the Senate voted 51-50, with Vice President JD Vance casting the tie-breaking vote, to approve a revised version of the One Big Beautiful Bill Act (OBBBA) (H.R. 1). This concluded a vote-a-rama that began the...more

Chairman Cassidy Unveils Senate HELP Committee Budget Reconciliation Bill

On Tuesday, June 10, the Senate Health, Education, Labor and Pensions (HELP) Committee released the text of its budget reconciliation bill, accompanied by a section-by-section summary and a one-pager. This release follows the...more

H.R. 1 Tax Title – Summary and Analysis

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

Court Orders Threaten President Trump’s Tariff Regime

Current State of Play: The United States Court of Appeals for the Federal Circuit consolidated and temporarily stayed the first decision from the U.S. Court of International Trade (USCIT). This temporary stay keeps the...more

White House Releases Additional FY26 Budget Details

On Friday, May 30, the Trump administration released the Technical Supplement to the 2026 Budget (“Appendix”). The appendix follows the May 2 release of the president’s recommendations on discretionary funding levels for...more

H.R. 1 Tax Title – Summary and Analysis

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

2025 Tax Bill – Summary and Analysis

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

House Ways and Means Committee Budget Completes Reconciliation Markup

On Tuesday afternoon, May 13, the Ways and Means Committee (“Committee”) started its markup of the tax title for the FY2025 budget reconciliation bill. The Committee favorably reported the bill on Wednesday morning, May 14,...more

Trump Exempts Certain Electronics from Reciprocal Tariffs, Moves Towards Reshoring Tariffs on Chips

On Friday, April 11, President Donald Trump issued a memorandum to clarify that smartphones and certain other electronics are not subject to the now-125% “reciprocal” tariff on imports from China or the 10% “baseline” tariff...more

“Liberation Day”– Trump Announces Reciprocal Tariffs, Ends De Minimis Treatment for China

On April 2, President Donald Trump issued a series of executive orders (EOs) to impose reciprocal tariffs on select countries and revoke China’s eligibility for the de minimis exemption. The long-previewed actions fulfill a...more

Senate Passes Continuing Resolution, Avoids Shutdown

On Friday, March 14, 2025, the Senate advanced the Full-Year Continuing Appropriations and Extensions Act, 2025 (H.R. 1968), a continuing resolution (CR) that funds the federal government until Sept. 30, 2025. The House...more

Navigating the Trump Administration’s Tariffs – State of Play and Key Dates

Tariffs are a vital part of the Trump administration’s economic and international policy agenda. Less than two months into the new administration, the president has imposed new tariffs on major trading partners, expanded...more

President Trump Issues Reciprocal Tariff Memorandum

On Feb. 13, President Donald Trump issued a memorandum directing the Secretary of Commerce and U.S. Trade Representative (USTR) to review all tariffs imposed on U.S. exports as well as other non-tariff trade barriers that...more

Trump Uses IEEPA to Impose Tariffs on China, Mexico and Canada—Analysis and Summary

As of Monday afternoon, Feb. 3, discussions between President Trump, Canadian Prime Minister Justin Trudeau and Mexican President Claudia Sheinbaum have resulted in a one-month delay in implementing tariffs on those...more

Analysis of OMB’s Temporary Funding Pause

On Monday, Jan. 27, President Donald Trump’s Office of Management and Budget (OMB) issued a memorandum (“memo”) directing all federal departments and agencies to “temporarily pause all activities related to obligation or...more

President Trump Issues America First Trade Policy Memorandum—Analysis and Section Summary

President Donald Trump issued an “American First Trade Policy Memorandum” as part of wide-ranging executive actions on Jan. 20, his first day in office. The memorandum calls for a series of reviews of U.S. trade policy and...more

White House FY2025 Budget Request: Key Tax Takeaways

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

The White House Releases FY 2025 Budget Tax Priorities

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

Education Priorities in State of the Union Address

President Joe Biden delivered his third State of the Union address on March 7, just days after the Super Tuesday primary elections cemented him and former President Donald Trump as the presumptive nominees for their...more

Tax Takeaways from Biden’s State of the Union Address

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

House Votes to Overturn NLRB’s Joint Employer Rule

On Jan. 12, 2024, the House voted 206-177 in favor of a resolution providing for congressional disapproval of the National Labor Relations Board’s (NLRB) new joint employer rule. The final rule, published on Oct. 26, 2023,...more

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