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SALT Federal Budget Tax Reform

Verrill

Permanent Exemptions and New Deductions: What the 2025 Tax Law Means for Estate and Tax Planning

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On July 4, 2025, President Trump signed into law the 2025 Budget Reconciliation bill, commonly known as the One Big Beautiful Bill Act (“Act”). This legislation extends several provisions from the Tax Cuts and Jobs Act...more

Bilzin Sumberg

Key Tax Provisions in the One Big Beautiful Bill Act: What Individuals and Businesses Need to Know

Bilzin Sumberg on

The enactment of the One Big Beautiful Bill Act (“OBBBA”) on July 4, 2025 is the first key piece of tax legislation passed during President Trump’s second administration. While preserving much of the structure established...more

Skadden, Arps, Slate, Meagher & Flom LLP

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

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

Cadwalader, Wickersham & Taft LLP

The Senate Lowballs SALT Cap in Its Budget Bill

On June 16, 2025, the U.S. Senate released its version of the budget reconciliation bill (“Senate bill”), making several changes to the House-passed version from May 22, 2025 (“House bill”). One major difference is the cap on...more

Eversheds Sutherland (US) LLP

Senate’s version would permanently extend TCJA provisions and close interest loopholes

On June 16, 2025, the Senate Finance Committee released proposed text for tax provisions to be included in the Senate’s version of the One Big Beautiful Bill Act (OBBB). Our prior Alert addresses the House version of the...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

A&O Shearman

Summary of key provisions in House reconciliation bill

A&O Shearman on

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

Kelley Drye & Warren LLP

One Big Beautiful Bill Act

On May 22, 2025, the House of Representatives passed the ​“One Big Beautiful Bill Act” (the ​“Bill”) by a one vote margin. Set forth below is a summary description of some of the provisions of the Bill....more

BakerHostetler

Tax Bill Proposes Trillions in Tax Cuts and Significant Tax Increases

BakerHostetler on

The race to remake portions of the Internal Revenue Code (Code) and to prevent expiration of certain Tax Cuts and Jobs Act (TCJA) provisions has begun, with House Ways & Means Committee proposals (the Markup) to spend...more

Pillsbury Winthrop Shaw Pittman LLP

Taxmageddon: What to Expect under Trump 2.0 and a GOP-Led Congress

With the Trump administration and a Republican-controlled Congress now in office, significant changes to the U.S. economic landscape and tax policy are expected. Indeed, legislation to change tax policy and to implement...more

Akin Gump Strauss Hauer & Feld LLP

Inflation Reduction Act Update

The following alert provides a high level update to the August 4 Akin Gump comprehensive section-by-section report, which was published before the Senate vote-a-rama and final Senate passage. This update is being published...more

Cadwalader, Wickersham & Taft LLP

Senate Democrats Pass Budget Resolution

On August 9, 2021, Senate Democrats released the text of a budget resolution establishing President Biden’s $3.5 trillion economic agenda. The resolution was passed on August 11, 2021 along party lines....more

Brownstein Hyatt Farber Schreck

Taxation & Representation - June 2019 #3

TAX TIDBIT - Five Takeaways and a Falsehood: Test Your Knowledge of the Ways and Means Tax Markup - On Thursday, the House Ways and Means Committee marked up and approved the following four bills, largely along...more

Brownstein Hyatt Farber Schreck

Taxation & Representation - September 24, 2018

TAX TIDBIT - With the midterm elections just weeks away, both parties have been hitting the campaign trail hard, strutting their stuff to win over voters. ...more

Clark Hill PLC

Window On Washington - Vol. 2, Issue 36

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Outlook for This Week in the Nation's Capital - Minibus Progress. The first minibus package, which contains the Energy and Water, Military Construction and Veterans Affairs, and Legislative Branch appropriations bills, is in...more

Clark Hill PLC

Window On Washington - Vol. 2, Issue 29

Clark Hill PLC on

Outlook for This Week in the Nation's Capital - Minibus on Senate Floor. The Senate is expected to take up a four-bill spending package next week. ...more

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