THIS WEEK’S DOSE - - OBBBA implementation begins. While the administration focuses on implementing the new law, some lawmakers are already discussing adjustments to health provisions in the One Big Beautiful Bill Act...more
The Senate approved a revised version of H.R.4, the Rescission Act of 2025 on July 17, concluding a vote-a-rama that began the morning of July 16 and lasted 13 hours. Senators took roll call votes on 17 amendments and motions...more
On Tuesday, July 15, the Senate voted 51-50, with Vice President JD Vance casting the tie-breaking vote, on the motion to proceed with debate on H.R.4, the Rescission Act of 2025. Democrats used 10 hours of the statutorily...more
The U.S. House of Representatives returns from a district work period. The U.S. Senate is expected to consider the $9.4 billion rescissions package that passed the House last month. If not passed by July 18, 2025, the...more
Below is this week’s congressional update by BakerHostetler’s Federal Policy team. We’ll continue to post in weeks when both chambers of Congress are in session....more
THIS WEEK’S DOSE - - President Trumps signs OBBBA into law. After months of debate, Congress passed and President Trump signed H.R. 1, the One Big Beautiful Bill Act (OBBBA), into law on July 4, 2025. - Senate HELP...more
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
Welcome to what technically was supposed to be a congressional recess week in advance of the Fourth of July. The Fourth also has been Republicans’ internal deadline for having a reconciliation package on the president’s desk,...more
On June 28, 2025, Senate Republicans released their updated version of the One Big Beautiful Bill Act (OBBBA), moving closer to finalizing their sweeping tax reform package ahead of a self-imposed July 4 deadline. A key...more
On June 19, the U.S. Senate Committee on the Budget issued an update on the Senate Parliamentarian’s ruling that the provision in HR 1, the “One Big Beautiful Bill Act,” to eliminate all funding the CFPB may request would...more
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
Staff from U.S. Senate committees held meetings with the Senate parliamentarian over the weekend of June 20-22, 2025, to complete the "Byrd bath," a process by which committee staff make their case to the Senate...more
Over the last week, the Senate Finance Committee and Senate Agriculture Committee released their portions of reconciliation text, which includes most of the Medicaid and food insecurity provisions. The Senate committees will...more
On June 16, 2025, the Senate Finance Committee released its version of the “One, Big Beautiful Bill” (OBBB) that would create a steep phase-out of renewable energy tax credits—notably, renewable energy companies would have to...more
The U.S. Senate will likely release additional sections of the reconciliation package this week. It is unlikely the Senate Committee on Finance, which has jurisdiction over Medicaid, will hold a markup on its portion of the...more
Both chambers are in session this week. Senate Republicans will continue to revise the House-passed reconciliation package. Disagreements remain over the overall size of the package as well as a host of outstanding issues...more
Both chambers are in session this week after the Memorial Day recess. The Senate will begin putting its mark on the House-passed reconciliation package, evaluating what sections will likely not survive the parliamentarian’s...more
Congress is back from recess this week, and focus is on the Senate’s consideration of the House-passed reconciliation bill. Much of this work – for example, ensuring that provisions are consistent with the Byrd Rule – will be...more
On March 28, 2025, the New York State Senate Elections Committee met and voted to approve seven bills...more
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
Short Congressional Recess, Short Preview - While Congress is in recess this week, we are still on reconciliation watch as consideration of the One Big Beautiful Bill Act moves to the Senate. We are on the lookout for a...more
On May 22, 2025, the House of Representatives voted along party lines (with one Republican member voting present and two Republican members not voting) to advance the “One Big Beautiful Bill” Act (the OBBB) to the Senate for...more
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
MAHA and More Medicaid - Late Sunday night, May 18, 2025, the House Budget Committee voted to advance the reconciliation package drafted by the Energy and Commerce Committee and Ways and Means Committee last week. The four...more