The Federal Tax Deductions for Tips and Overtime Pay: Opportunities for Restaurants Employers
The Impact of One Big Beautiful Bill on Estate Planning
Welcome to our eighth issue of Currents 2025. Extending the Lives of Fossil Fuel Power Plants Based on Arguably Tenuous Assumptions May Increase Power Prices - In July, the Trump administration’s Department of Energy (DOE)...more
With an effective date of September 2, 2025, New Beginning of Construction guidance will be prospective and not apply to projects that satisfied beginning of construction under old IRS guidance before September 2, 2025. ...more
In its first nine months, the Trump administration has taken multiple actions impacting offshore wind development and generating substantial uncertainty as to the industry’s future in the United States. Those actions have...more
The Internal Revenue Service ("IRS") has issued Notice 2025-42 to implement the One Big Beautiful Bill Act ("OBBBA") mandate to phase out the clean electricity production tax credit (§ 45Y) and investment tax credit (§ 48E)...more
The One Big Beautiful Bill Act (the “OBBBA”), which was passed on July 4, 2025, included several changes to the energy tax credits introduced and expanded by the Inflation Reduction Act of 2022 (the “IRA”). The key changes to...more
As we have discussed in recent articles and as has been well publicized, two recent actions out of Washington are significantly impacting the renewable energy industry. The recently enacted One, Big, Beautiful Bill Act...more
The One Big Beautiful Bill Act (OBBBA), signed into law by President Donald Trump on July 4, 2025, provides for enhanced restrictions on entities claiming many of the renewable energy credits established under the Inflation...more
On Friday, July 4, 2025, President Trump signed into law the One Big Beautiful Bill Act (H.R. 1), Public Law No: 119-21 (The OBBB Act). The legislation spans multiple sectors, with investments in aviation and maritime...more
Days after signing into law the One Big Beautiful Bill Act (OBBBA), which dramatically rolled back the availability of federal tax credits for solar and wind power projects, President Trump issued an Executive Order (EO)...more
On July 4, 2025, President Trump signed H.R. 1—dubbed the One Big Beautiful Bill Act (OBBBA)—enacting significant modifications to clean‑energy credits previously enacted under the Inflation Reduction Act of 2022. OBBBA...more
Right on the heels of our July ML Strategies Energy and Sustainability Update published last week, the Senate and then the House passed the Trump administration’s One Big Beautiful Bill (OBBB) legislation and got it to the...more
The One Big Beautiful Bill Act modifies the requirements for clean energy tax credits....more