News & Analysis as of September 3, 2025

Budget Reconciliation

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Estate taxes, also known as inheritance or death taxes, are taxes on an individual's right to transfer property at death.

Now Is the Time to Revisit Trusts & Estates Plans, as Tax Exemption Law Changes Are on the Horizon

Tarter Krinsky & Drogin LLP on 6/17/2025

On May 22, 2025, the House of Representatives passed the One Big Beautiful Bill Act by a single-vote margin. This bill adopted many of the recommendations of the House Ways and Means Committee, with a few changes along the...more

Summary of key provisions in House reconciliation bill

A&O Shearman on 5/29/2025

On May 22, 2025, the U.S. House of Representatives narrowly passed the House budget reconciliation bill (H.R. 1) (the “House Bill”) by a party-line vote of 215 – 214. The House Bill, which includes significant tax law...more

Reconciled But Risky: Can the $15 Million Exemption Make It Through Congress?

Kohrman Jackson & Krantz LLP on 5/14/2025

On May 12, the House Ways and Means Committee released its long-anticipated reconciliation package—an expansive tax and spending bill aimed at extending the 2017 Trump tax cuts and cementing key fiscal priorities before the...more

Baseline vs. the Byrd Rule: What’s Next for the Gift and Estate Tax?

Kohrman Jackson & Krantz LLP on 4/14/2025

On April 10, 2025, the House of Representatives narrowly approved the Senate’s version of the FY 2025 budget resolution, which it passed on April 5, formally aligning both chambers on President Trump’s legislative tax agenda....more

Tax Proposals of the House Ways and Means Committee: Reconciliation Bill to Target Trusts, Estates, and the Wealthy

Winstead PC on 9/20/2021

On Sunday, September 12, 2021, the House Ways & Means Committee (the "Committee") released draft legislation as part of Congress' ongoing $3.5 trillion budget reconciliation process. The legislation, as approved by the...more

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