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Inflation Reduction Act (IRA) Tax Reform New Legislation

Beveridge & Diamond PC

The One Big Beautiful Bill Act Is Very Ugly for Wind and Solar

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On July 4, 2025, President Trump signed the One Big Beautiful Bill Act (OBBBA) into law, significantly revising the U.S. tax code to reflect the Administration’s domestic energy, trade, and national security priorities. Among...more

Williams Mullen

The One, Big, Beautiful Bill Amends Renewable Energy Tax Credits - Summary of Key Changes

Williams Mullen on

On July 4, 2025, President Trump signed H.R. 1 -- The One, Big, Beautiful Bill Act (the “Act”) into law. The Act makes significant changes to the clean energy tax credits previously available under the Inflation Reduction Act...more

Jones Day

The One Big Beautiful Bill Becomes Law: Impact on Clean Energy Tax Credits

Jones Day on

The One Big Beautiful Bill Act modifies the requirements for clean energy tax credits....more

Levenfeld Pearlstein, LLC

The One Big, Beautiful Bill’s Key Provisions

President Trump signed into law major tax legislation on July 4, 2025. While the bill itself is almost a thousand pages long, below is a bite-size summary of what you need to know about key provisions: Individual Income and...more

Eversheds Sutherland (US) LLP

Tax Bytes: Week of July 7, 2025

Welcome to this week’s edition of Tax Bytes. Our team of tax lawyers is actively monitoring for federal and international tax developments and issues of note. Each week we pull together the items we deem most important to...more

Stoel Rives LLP

Newly Enacted Legislation Makes Significant Tax Changes

Stoel Rives LLP on

On July 4, 2025, President Trump signed ”An Act to provide for reconciliation pursuant to title II of H. Con. Res. 14” (formerly known as the “One Big Beautiful Bill Act”) (the Act), comprehensive tax reform legislation that...more

Latham & Watkins LLP

One Big Beautiful Bill: New Law Disrupts Clean Energy Investment

Latham & Watkins LLP on

On July 4, 2025, President Trump signed into law the One Big Beautiful Bill Act (the OBBB), which significantly rolls back many of the core tax incentives that clean energy projects have relied on since the passage of the...more

Vinson & Elkins LLP

One Big Beautiful Bill Act: Key Tax Impacts for Businesses

Vinson & Elkins LLP on

On July 4, 2025, President Donald J. Trump signed the One Big Beautiful Bill Act (the “OBBBA”) into law. Congress passed the OBBBA through budget reconciliation, a special legislative process that allows Congress to advance...more

Baker Botts L.L.P.

The "One Big Beautiful Bill" Key Tax Takeaways

Baker Botts L.L.P. on

On July 4, 2025, the legislation commonly known as “The One Big Beautiful Bill Act” (the “BBBA”) was enacted. The BBBA makes permanent, extends and, in certain cases, modifies, a number of provisions from the 2017 Tax Cuts...more

Baker Botts L.L.P.

The "One Big Beautiful Bill Act" Substantially Alters Clean Energy Tax Landscape

Baker Botts L.L.P. on

On July 4, 2025, the legislation commonly known as the "One Big Beautiful Bill Act" (the “BBBA”) was enacted. The BBBA makes significant changes to the tax credits available under the Inflation Reduction Act of 2022 (the...more

Lathrop GPM

Tax Update: One Big Beautiful Bill Act Signed Into Law – What Does It Mean for You?

Lathrop GPM on

On July 4, 2025, President Trump signed into law the massive spending and tax package known as the “One Big Beautiful Bill Act” (OBBBA). The OBBBA makes tax provisions from the 2017 Tax Cuts and Jobs Act permanent, in some...more

Vinson & Elkins LLP

One Big Beautiful Bill Signed into Law – Impact on IRA Tax Credits

Vinson & Elkins LLP on

On July 4, 2025, President Trump signed the “One Big Beautiful Bill Act” (H.R. 1 119th Congress) (“OBBB”) into law. OBBB made changes to various tax provisions – including tax rates, modification of treatment of state and...more

White & Case LLP

New Law Changes IRA Tax Credits

White & Case LLP on

This is an updated version of the alert published on July 3. Update: The President of the United States has signed into law the budget reconciliation bill (H.R. 1, the "One Big Beautiful Bill Act") on July 4, 2025. Update:...more

Davis Wright Tremaine LLP

"One Big Beautiful Bill" Passes House and Senate

Earlier today, the House passed President Trump's sweeping tax and spending legislation after overcoming resistance from some Republican members. A revised version of the legislation narrowly passed the Senate on July 1 in a...more

Husch Blackwell LLP

Energy Tax Credit Framework Undergoes Further Changes in Senate-Approved Version of OBBB Act

Husch Blackwell LLP on

On July 1, 2025, the U.S. Senate passed its version of The One Big Beautiful Bill (OBBB) Act, the massive budget bill that contains significant provisions affecting tax credits for renewable energy project development. After...more

Bond Schoeneck & King PLLC

Top 10 Tax Takeaways From The One Big Beautiful Bill Act

On May 22, 2025, the U.S. House of Representatives passed federal reconciliation bill H.R. 1, commonly known as the “One Big Beautiful Bill Act,” which will now move to the U.S. Senate for consideration. While the U.S....more

Baker Botts L.L.P.

"The One Big Beautiful Bill" Key Tax Takeaways

Baker Botts L.L.P. on

On May 22, 2025, the House passed the legislation entitled “The One Big Beautiful Bill” (the “BBB”). The BBB makes permanent, extends and, in certain cases, modifies, a number of provisions from the 2017 Tax Cuts and Jobs Act...more

Skadden, Arps, Slate, Meagher & Flom LLP

The One Big Beautiful Bill Act: An Initial Analysis of Key Tax Proposals

On May 22, 2025, the House of Representatives passed the One Big Beautiful Bill Act (OBBBA). Tax-related proposals contained in the OBBBA would extend or make permanent select corporate, international and individual tax...more

Cadwalader, Wickersham & Taft LLP

House Passes Major Tax Cuts in Budget Bill

On May 22, 2025, the House passed its FY 2025 budget bill, which includes substantial tax cuts. Following extensive negotiations in the House, legislators included last-minute amendments to the budget bill, which, among other...more

Pillsbury - SeeSalt Blog

California Legislature Advances Broad Federal Tax Conformity Bill (SB 711)

Senate Bill 711 (S.B. 711) would update California’s conformity date to the Internal Revenue Code (IRC) from January 1, 2015, to January 1, 2025. If enacted, this change would apply to taxable years beginning on or after...more

Husch Blackwell LLP

Further Restrictions on IRA Renewable Energy Tax Credits Included in Draft Bill Passed by House

Husch Blackwell LLP on

On May 22, 2025, the U.S. House of Representatives passed a new version of H.R. 1, “The One, Big, Beautiful Bill” that would effectively repeal the Inflation Reduction Act’s (IRA’s) clean energy tax credits almost...more

Akin Gump Strauss Hauer & Feld LLP

House Passes Major Cuts to IRA Clean Energy Tax Credit Provisions

On May 22, 2025, the U.S. House of Representatives passed a highly anticipated piece of legislation - commonly referred to as “The One, Big, Beautiful Bill” (the “Bill”) - by a mostly party-line vote of 215-214-1 (two...more

Foley & Lardner LLP

High-Level Overview of certain Provisions Impacting Renewable Energy Incentives in “The One, Big, Beautiful Bill” Draft...

Foley & Lardner LLP on

May 12th, the House Ways and Means Committee released a package of tax provisions (the “Bill”) that includes claw backs of certain provisions of the Inflation Reduction Act. Note that this Bill is a draft only, has not been...more

Brownstein Hyatt Farber Schreck

Omnibus Funding Bill Scraps Most Tax Provisions; Includes Retirement Savings Bill

Early this morning, lawmakers released the text for the $1.7 trillion fiscal year 2023 omnibus appropriations bill. The package contains 12 separate appropriations bills providing a total of $772.5 billion in nondefense...more

Brownstein Hyatt Farber Schreck

Taxation & Representation, August 9, 2022

RECONCILIATION UPDATE - The Senate voted to pass the $750 billion Inflation Reduction Act (IRA) on Aug. 7, concluding a marathon session that began the night before. Passage of the bill in the Senate all but ensures a...more

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