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Fox Rothschild LLP

White House Proposes $2.5 Billion Cut to IRS Budget for FY2026

Fox Rothschild LLP on

The Trump administration is continuing its offensive against the Internal Revenue Service by proposing a $2.5 billion cut to the agency’s budget for FY2026. In the White House’s “skinny budget” released on May 2, the IRS’s...more

Goodwin

2025 Budget Resolution Update: Tax Implications

Goodwin on

On February 13, the House Budget Committee, voting 21-16 along party lines (Republicans in favor and Democrats opposed), passed a 2025 budget resolution. The bill does not expressly reference the Tax Cuts and Jobs Act of 2017...more

Brownstein Hyatt Farber Schreck

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

Brownstein Hyatt Farber Schreck

Fiscal Year 2025 Greenbook Provisions Chart

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

Brownstein Hyatt Farber Schreck

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

Brownstein Hyatt Farber Schreck

Taxation & Representation, March 21, 2023

Senators Renew Efforts to Reverse R&D Tax Modification. Last Friday, a bipartisan coalition of 12 senators introduced the American Innovation and Jobs Act to increase incentives for businesses that invest in domestic research...more

Littler

Treasury Department’s Greenbook Discusses Tax Treatment of On-Demand Pay

Littler on

The U.S. Department of the Treasury has released a document to explain the revenue proposals included in President Biden’s FY 2023 proposed Budget.  For the second consecutive year, the General Explanations of the...more

Goulston & Storrs PC

Biden’s FY2024 Budget: Key Real Estate Tax Proposals

Goulston & Storrs PC on

On March 9, 2023, President Biden released his FY2024 budget (the “FY2024 Budget”), and the U.S. Treasury released the so-called “Green Book," which provides details related to the revenue provisions in the FY2024 Budget....more

Brownstein Hyatt Farber Schreck

Summary and Analysis: White House FY2024 Budget Request Tax Proposals

On Thursday, March 9, President Joe Biden released his $6.9 trillion Budget and various accompanying documents. Separately, the Treasury Department released its Green Book, which provides more detailed descriptions of the tax...more

Clark Hill PLC

Window on Washington – Vol. 6, Issue 47

Clark Hill PLC on

Outlook for This Week in the Nation’s Capital - Congress. The House and Senate are both in session this week. Government funding expires at midnight Friday, making passage of a short-term extension of the current Continuing...more

Clark Hill PLC

Window on Washington – Vol. 6, Issue 44

Clark Hill PLC on

Outlook for This Week in the Nation’s Capital - Congress. The House and Senate are both in recess this week. When the Senate returns next week, it will hold a procedural vote on a bill to codify the right to same-sex...more

Clark Hill PLC

Window on Washington – Vol. 6, Issue 43

Clark Hill PLC on

Outlook for This Week in the Nation’s Capital - Congress. The House and Senate will return to DC this week for the lame duck session of the 117th Congress with continued funding of the government as the top priority. Current...more

Clark Hill PLC

Window on Washington – Vol. 6, Issue 42

Clark Hill PLC on

Outlook for This Week in the Nation’s Capital - Congress. Congress is in recess this week. Both the House and Senate will return to Washington next Monday, November 14th....more

Clark Hill PLC

Window on Washington – Vol. 6, Issue 41

Clark Hill PLC on

Outlook for This Week in the Nation’s Capital - Congress. The House and Senate are both out of session for the last week before the election. Debt Limit. According to the Bipartisan Policy Center, the U.S. won’t reach its...more

Clark Hill PLC

Window on Washington – Vol. 6, Issue 40

Clark Hill PLC on

Outlook for This Week in the Nation’s Capital - Congress. Congress is in recess this week. Shortly after returning from the midterm election break, both parties will hold votes on their leadership. House Speaker Nancy Pelosi...more

Brownstein Hyatt Farber Schreck

Taxation & Representation, September 13, 2022

LEGISLATIVE LOWDOWN - Recess Recap: What happened over the last month in the world of tax?   Congress Considers Options to Delay Impending Shutdown. With Congress unable to reach a consensus on appropriations bills for...more

Clark Hill PLC

Window on Washington – Vol. 6, Issue 38

Clark Hill PLC on

Outlook for This Week in the Nation’s Capital - Congress. Congress is in recess until November. The January 6th Committee will hold a public hearing on Thursday afternoon. Many expect the Committee to release an interim...more

Clark Hill PLC

Window on Washington – Vol. 6, Issue 32

Clark Hill PLC on

Outlook for This Week in the Nation’s Capital - Congress. The House and Senate are both in recess until Labor Day. Once they return, they will have a packed to-do list ahead of the November elections, which may include...more

Bailey & Glasser, LLP

BG Tax Alert - Take Two: Biden’s Budget Proposes Tax Hikes

Bailey & Glasser, LLP on

On March 28, 2022, President Biden announced his 2023 federal budget (Budget), which is often referred to as the President’s Green Book. While much of the Budget harkens back to the “Build Back Better Framework” (Framework),...more

Eversheds Sutherland (US) LLP

Billionaires, BEAT, and Basis-Shifting: 2023 Green Book proposes tax changes affecting corporations, partnerships and individuals

On March 28, 2022, the Biden Administration released the 2023 Fiscal Year Budget (the 2023 Budget). It is important to note that the Budget assumes the Build Back Better Act (the BBBA) will be enacted as passed by the House...more

Brownstein Hyatt Farber Schreck

White House Releases FY 2023 Budget Request

The White House released its fiscal year (FY) 2023 budget request on Monday. Overall, it proposes $5.8 trillion in total spending, including a proposed $813 billion for defense and about $769 billion in non-defense...more

Clark Hill PLC

Window on Washington – Vol. 6, Issue 5

Clark Hill PLC on

Outlook for This Week in the Nation’s Capital - Congress. The House and Senate are both in session this week. The House plans to vote on bills related to the postal service, foreign affairs, and sexual assault and...more

Brownstein Hyatt Farber Schreck

Taxation & Representation, January 11, 2022

Tax Tidbit - Budget Reconciliation: By the Numbers. Since 1980, Congress has passed 26 budget reconciliation bills, 22 of which have become law. During 11 of those 41 years, Congress did not pass any budget reconciliation...more

Clark Hill PLC

Window on Washington – Vol. 6, Issue 4

Clark Hill PLC on

Outlook for This Week in the Nation’s Capital - Congress. The House and Senate are both in session this week. Their to-do list includes continuing their work on FY22 appropriations, the reconciliation bill, election reform,...more

Brownstein Hyatt Farber Schreck

Taxation & Representation, November 17, 2021

Tax Tidbit - Bipartisan Infrastructure Bill Becomes Law. On Monday, President Joe Biden signed into law the Infrastructure Investment and Jobs Act, which contains $1.2 trillion in funding for traditional infrastructure...more

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