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Federal Budget Regulatory Reform

Ballard Spahr LLP

The OBBBA’s Impact on Employee Benefits and Executive Compensation

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H.R.1—the One Big Beautiful Bill Act (OBBBA)—contains several provisions that directly affect employer-provided benefit programs, primarily health and welfare programs....more

Quarles & Brady LLP

No AI Moratorium for Now, but What Comes Next?

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President Donald Trump’s budget reconciliation bill (H.R.1.), dubbed the One Big Beautiful Bill Act (the Bill), nearly put a decade-long pause on state and local government AI regulation within the United States (the...more

A&O Shearman

Impact of the One Big Beautiful Bill Act on Inflation Reduction Act Incentives

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On July 4, 2025, President Trump signed into law “An Act to provide for reconciliation pursuant to title II of H. Con. Re. 14” (commonly known as the One Big Beautiful Bill Act (the “Act”)). On July 7, President Trump...more

Ballard Spahr LLP

Budget bill does not include Senate proposal to delay Section 1071 for ten years, but Trump Administration again promises changes

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The huge budget bill signed by President Trump on July 4 does not include a proposal from Senate Banking, Housing and Urban Affairs Committee Republicans to delay implementation of the Section 1071 rule for ten years, but the...more

Holland & Knight LLP

CFPB Budget Slashed by Almost 50 Percent as Trump Signs One Big Beautiful Bill Act

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President Donald Trump on July 4, 2025, signed into law the One Big Beautiful Bill Act (OBBB), sweeping legislation that has direct impacts on the future of the CFPB. The final bill reduces the CFPB's operating budget from 12...more

Ballard Spahr LLP

Budget bill includes huge cuts to CFPB budget

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The budget bill signed by President Trump on July 4 will make massive cuts to the CFPB’s budget. The huge bill changes the amount that the CFPB may receive from the Federal Reserve from a maximum of 12% of the Fed’s...more

Orrick, Herrington & Sutcliffe LLP

Congress reduces CFPB’s budget request cap following passage of reconciliation bill

On July 3, the House of Representatives passed H.R.1, the “One Big Beautiful Bill Act” to reduce the cap on amounts the CFPB can request from the Fed to fund its operations from 12 percent to 6.5 percent of the Fed’s total...more

Jackson Lewis P.C.

AI Moratorium Removed from Federal Budget Bill

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The U.S. Senate voted early Tuesday to remove a proposed moratorium from the federal budget bill. This outcome marks a pivotal moment in the ongoing debate over artificial intelligence regulation in the United States....more

Ballard Spahr LLP

Senate Republicans get Parliamentarian’s approval to slash CFPB funding in massive budget bill

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Senate Banking, Housing and Urban Affairs (Banking Committee) Republicans have received the Senate Parliamentarian’s approval to cut the CFPB’s funding. As a result, in the large budget reconciliation bill now being written...more

Troutman Pepper Locke

Federal “Temporary Pause” of State AI Laws Clears Procedural Hurdle as Sides Draw Battle Lines

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One of many provisions in the “One Big Beautiful Bill Act,” passed by the U.S. House of Representatives, would place a 10-year “temporary pause” on states’ ability to regulate artificial intelligence (AI). Initially called a...more

Holland & Knight LLP

CFPB Budget Cuts Blocked by Senate Parliamentarian

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Senate Parliamentarian Elizabeth MacDonough ruled that the Trump Administration and congressional Republicans cannot use the pending budget reconciliation bill to eliminate funding to the CFPB in a June 23, 2025,...more

Ballard Spahr LLP

Senate Parliamentarian says elimination of CFPB funding cannot be included in budget bill but delay of Section 1071 rule passes...

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The Senate parliamentarian has ruled that a key Senate Banking, Housing and Urban Affairs (Banking Committee) provision that would eliminate all funding for the CFPB cannot be included in the massive budget reconciliation...more

Sheppard Mullin Richter & Hampton LLP

Understanding the Federal Reconciliation Bill’s Implications for MCO Tax Structure

New York’s Medicaid financing strategy—particularly its use of a managed care organization (MCO) tax—has come under renewed federal scrutiny amid recent legislative proposals and regulatory developments. The federal...more

Zelle  LLP

AI Update: Insurance Commissioners Challenge One Big Beautiful Bill Act’s Definition of Artificial Intelligence

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One Big Beautiful Bill Act (“OBBA”) which would impose a 10-year freeze on new state-level artificial intelligence regulations and suspend enforcement of existing ones is being challenged by several state insurance...more

Ballard Spahr LLP

President Trump’s Budget Goes To Work Against Enforcement Agencies with Significant Cuts to DOL and NLRB

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President Trump’s proposed budget for Fiscal Year (FY) 2026 includes substantial reductions to the U.S. Department of Labor’s (DOL) budget and staff.  The proposed discretionary budget is slashed from $13.5 billion to $9...more

Troutman Pepper Locke

FUNDamentals — June 2025

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FUNDamentals is a periodic digest of news and information specifically for private funds and their managers. In this issue, we highlight some fundraising trends, new marketing rule FAQs, fund liquidity trends (limited...more

Seyfarth Shaw LLP

Trump Budget Plan Proposes Big Cuts to OSHA, Lowering Head Count and Limiting Enforcement Capabilities

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The Trump Administration’s fiscal year 2026 budget proposal includes big cuts for OSHA. The Fiscal Year 2026 Congressional Budget Justification is available...more

Sheppard Mullin Richter & Hampton LLP

The One Big Beautiful Bill Act’s Proposed Moratorium on State AI Legislation: What Healthcare Organizations Should Know

Congress is weighing a sweeping proposal that could significantly reshape how artificial intelligence (AI) is regulated across the United States. At the end of May, the United States House of Representatives passed, by a vote...more

Troutman Pepper Locke

NAIC Responds to Proposed 10-Year Moratorium on State Regulation of AI in One Big Beautiful Bill Act

Troutman Pepper Locke on

There is a proposed 10-year moratorium on the enforcement of state laws that regulate artificial intelligence (AI) contained in Section 43201(c) of H.R.1 – One Big Beautiful Bill Act. ...more

Holland & Knight LLP

EPA Proposes Significant Budget Reduction for Fiscal Year 2026

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The U.S. Environmental Protection Agency's (EPA) budget proposal for fiscal year (FY) 2026 fundamentally reimagines the federal government's role in environmental policy and regulation. If enacted by Congress, EPA's budget...more

Robinson+Cole Data Privacy + Security Insider

State Lawmakers Oppose Proposed 10 Year Freeze on AI Laws + Regulations

On June 3, 2025, a bipartisan group of 260 state lawmakers sent a letter to the U.S. House of Representatives and the U. S. Senate expressing “strong opposition to the provision in Subtitle C, Part 2 of the tax and budget...more

Bergeson & Campbell, P.C.

President’s FY 2026 Budget Requests Would Eliminate CSB, Reorganize CPSC

President Trump’s fiscal year (FY) 2026 budget request for the Chemical Safety and Hazard Investigation Board (CSB) states that the President’s budget proposes to eliminate funding for CSB as part of the Trump...more

Seyfarth Shaw LLP

The Week in Weed: June 2025

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Welcome back to The Week in Weed, your Friday look at what’s happening in the world of legalized marijuana. This week, Texas is the center of gravity in the hemp world. The First Circuit rules against cannabis businesses. ...more

McDermott+

Filling in More Puzzle Pieces with HHS’s Newly Released Budget Documents

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McDermott+ is pleased to bring you Regs & Eggs, a weekly Regulatory Affairs blog by Jeffrey Davis. Click here to subscribe to future blog posts. June 5, 2025 – On May 30, 2025, the US Department of Health and Human Services...more

Cozen O'Connor

Cozen Currents: The Certainty and Uncertainty of Trump Walking It Back

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“While the financial markets have become comfortable with dismissing the tail risks associated with the president’s boldest policy proposals, President Trump has successfully enacted ambitious policy proposals, albeit perhaps...more

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