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Biden Administration Federal Budget Tax Credits

Fox Rothschild LLP

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

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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

Pillsbury Winthrop Shaw Pittman LLP

Trump 2.0: What Happens to Federal Funding?

Pillsbury’s recent alert on the newly formed Department of Government Efficiency, or “DOGE,” an autonomous organization created by President-elect Trump and spearheaded by Elon Musk, identified several steps for industries...more

K&L Gates LLP

FY2025 Budget Supports Biden Administration's Focus on Fairness in the Tax Code

K&L Gates LLP on

Overview - On Monday, 11 March 2024, the Biden administration released the president’s budget request (PBR) for fiscal year 2025 (FY2025), as well as the “Greenbook” containing explanations of the various revenue proposals in...more

Brownstein Hyatt Farber Schreck

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

Alston & Bird

Look Ahead to the Week of February 5: Moment of Truth for Border Deal

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Look Ahead to the Week of February 5: Moment of Truth for Border Deal - Both the Senate and House are in session this week, although the lower chamber will wrap up votes early as House Democrats depart Wednesday for their...more

Alston & Bird

Look Ahead to the Week of January 22: Senate Focuses on National Security Supplemental

Alston & Bird on

Look Ahead to the Week of January 22: Senate Focuses on National Security Supplemental The Senate is in session this week, but the House is out. Last week, President Biden signed an additional temporary spending bill to...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 34

Clark Hill PLC on

Outlook for This Week in the Nation’s Capital - Congress.  Both the House and Senate are in session this week. The Senate has several lingering priorities in addition to confirmation votes, including a promised vote on...more

Hogan Lovells

The IRA’s transformative tax incentives for solar energy projects and manufacturing operations

Hogan Lovells on

The Inflation Reduction Act (IRA), as passed by the House and Senate, is a major political achievement for the Biden Administration, Senate Majority Leader Chuck Schumer (D-NY), and Democrats of the 117th Congress. This is...more

Clark Hill PLC

Window on Washington – Vol. 6, Issue 31

Clark Hill PLC on

Outlook for This Week in the Nation’s Capital - Congress. After a busy weekend voting on the reconciliation bill, the Senate is now in recess through Labor Day. The House, in recess since late July, returns this week on...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

Goulston & Storrs PC

Biden’s FY2023 Budget: Key Real Estate & Corporate Tax Proposals

Goulston & Storrs PC on

On March 28, 2022, President Biden released his FY2023 budget (the “FY2023 Budget”), and the U.S. Treasury released the so-called “Green Book,” which provides details related to the revenue provisions in the FY2023 Budget....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

Mayer Brown

Energy Storage Tax Credits in the Biden Administration FY 2022 Budget, GREEN Act and Clean Energy for America Act

Mayer Brown on

As the renewable energy sector has grown in recent years, thanks in part to federal income tax credits, researchers and policymakers have begun to focus on the role of energy storage. Because wind and solar are intermittent...more

Holland & Knight LLP

The Green Book and Green Energy

Holland & Knight LLP on

Since the beginning of his presidential campaign, President Joe Biden has made clear his vision to drive the United States toward world leadership in green energy. With tax policy long an important tool in the toolbox for...more

Eversheds Sutherland (US) LLP

FY 2022 Green Book goes big for green energy

On May 28, 2021, Treasury released the General Explanations of the Administration’s Fiscal Year 2022 Revenue Proposals, more commonly referred to as the Green Book. The issuance of the Green Book provides further detail on...more

Brownstein Hyatt Farber Schreck

Building Back Better, April 20, 2021

WHAT TO WATCH THIS WEEK - - Republican Counterproposal. Senate Republicans are crafting a counter-proposal as an alternative to President Joe Biden’s American Jobs Plan (AJP). The package is expected to cost around $600 to...more

Brownstein Hyatt Farber Schreck

Building Back Better, April 13, 2021

WHAT TO WATCH THIS WEEK - - White House Selling AJP. As the administration seeks to gain bipartisan support for its American Jobs Plan (AJP), President Joe Biden will be holding a series of meetings with lawmakers to discuss...more

Clark Hill PLC

Window On Washington - Vol. 5, Issue 17

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Outlook for This Week in the Nation’s Capital Congress. The Senate is in session this week, and the House is out of session until May 10. House Republicans are headed to Orlando, FL this week for their annual issues retreat,...more

Brownstein Hyatt Farber Schreck

Building Back Better, March 23, 2021

Note: Congress recently voted on a $1.9 trillion COVID-19 stimulus package—the American Rescue Plan Act (ARPA, P.L.117-2). It includes stimulus checks for individuals, expanded unemployment benefits, and funding for vaccines,...more

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