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SALT Proposed Legislation Gift Tax

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

Pillsbury Winthrop Shaw Pittman LLP

Breaking Down the “Big, Beautiful Bill”: Priorities and Provisions in the Proposed 2025 Federal Income Tax Legislation

This Pillsbury alert provides an overview of the “Big Beautiful Bill” (BBB) as passed by the House Ways & Means Committee on Sunday, May 18, 2025. The overview breaks the bill into three main sections: Changes Affecting...more

Kohrman Jackson & Krantz LLP

Reconciled But Risky: Can the $15 Million Exemption Make It Through Congress?

On May 12, the House Ways and Means Committee released its long-anticipated reconciliation package—an expansive tax and spending bill aimed at extending the 2017 Trump tax cuts and cementing key fiscal priorities before the...more

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