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Proposed Legislation › Taxation › Federal Budget

McDonnell Boehnen Hulbert & Berghoff LLP

Death and Taxes Should not be Certainties for the Patent System

McDonnell Boehnen Hulbert & Berghoff LLP on

The Department of Commerce has floated a proposal to tax U.S. patent holdings as a means of reducing the national debt, as outlined in a recent Wall Street Journal article. It is a bad idea that reflects a troubling...more

Moore & Van Allen PLLC

H.R.1 - One Big Beautiful Bill Act

Moore & Van Allen PLLC on

In Brief - - The Senate passed H.R. 1, as amended, 51-50 on July 1, 2025 (legislative day began on June 30, 2025). Vice President JD Vance broke the tie by voting for the measure and presiding over the closing of the vote....more

Skadden, Arps, Slate, Meagher & Flom LLP

Senate Finance Committee Proposes Key Departures From House Provisions for the One Big Beautiful Bill Act

Skadden, Arps, Slate, Meagher & Flom LLP on

Key Points - - The Senate Finance Committee’s version of the tax-related proposals aim to deliver on Senate Republicans’ promise to make many of the TCJA’s individual and corporate tax measures permanent. - The bill...more

Fox Rothschild LLP

Billy Long Sworn in as 51st IRS Commissioner

Fox Rothschild LLP on

Former member of Congress and professional auctioneer Billy Long has been formally sworn in as Commissioner of the Internal Revenue Service. Following lengthy delays during his nomination process, Long was confirmed by the...more

Cadwalader, Wickersham & Taft LLP

Carried Interest Survives Budget Bill … for Now

Cadwalader, Wickersham & Taft LLP on

On May 15, 2025, the House released the draft FY 2025 budget bill. As currently drafted, the budget bill does not limit or otherwise change the tax treatment of carried interest.  Following the release of the budget bill,...more

Eversheds Sutherland (US) LLP

The One Big Beautiful Bill – sports industry sweats the over/under

Eversheds Sutherland (US) LLP on

As the “One Big Beautiful Bill” continues its legislative path through Congress, it remains too close to call on how the final legislation will impact the sports industry. On May 22, 2025, the House of Representatives...more

Brownstein Hyatt Farber Schreck

House Ways and Means Committee Budget Completes Reconciliation Markup

Brownstein Hyatt Farber Schreck on

On Tuesday afternoon, May 13, the Ways and Means Committee (“Committee”) started its markup of the tax title for the FY2025 budget reconciliation bill. The Committee favorably reported the bill on Wednesday morning, May 14,...more

McDermott Will & Schulte

Mexican Federal Government Submits Proposed 2022 Economic Plan

McDermott Will & Schulte on

Last month, the Mexican federal government sent the proposed 2022 Economic Plan (the Proposal) to the Congress of the Union, which includes the 2022 Federal Budget, as well as the 2022 Revenue Law (Ley de Ingresos) and...more

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