Episode 26: Talking Tax Reform and Executive Comp
While most of us were enjoying the summer and the holiday weekend, Congress passed, and President Donald Trump signed, major tax legislation commonly called the One Big Beautiful Bill with the acronym, OBBBA. OBBBA covers a...more
The One Big Beautiful Bill Act expands the qualified small business stock benefits available to founders and investors....more
PA Budget Bill Passes in House, Stalls in Senate - On Monday, the Democratic-led state House voted to forward their state budget bill to the Senate, where GOP leadership is skeptical of full passage. While the House’s...more
On July 4, President Trump signed the One Big Beautiful Bill Act (OBBBA) into law and as a result enacted numerous significant tax law changes. While this short article will not address each aspect of the OBBBA, it will...more
On April 5th and April 10th, respectively, the Senate and House approved the FY25 budget resolution, thereby opening the budget reconciliation process and paving the way to enact President Trump’s various tax proposals,...more
Can the House Pass a Budget Resolution This Week? The House is back from recess, so both chambers of Congress are in session this week (although the House is out again on Friday). With 18 days left to pass a budget before...more
On February 12, 2025, the House proposed a budget resolution that earmarked up to $4.5 trillion for tax cuts over the next ten years. While the House has yet to elaborate on specific tax cuts or legislation, a widely...more
Last Tuesday, Governor Hochul released her $252B FY26 Executive Budget. The proposal includes funding for $1B in tax cuts for middle class New Yorkers, $3B in rebate checks, $800M to expand the state’s child tax credit, $340M...more
President-elect Donald Trump is set to return to the White House with Republicans narrowly securing both the US Senate and the US House of Representatives. Having control of both chambers positions the party well to pursue...more
Foley & Lardner announced the 2024 installment of its Auto Trends series—A Year in Review: Updates, Trends and the Road Ahead. This series delves deep into the transformative forces shaping the automotive world by providing...more
Republicans have swept the 2024 elections, returning Donald Trump to the White House as the 47th President and flipping the Senate to a Republican majority. Having narrowly maintained control of the House of Representatives,...more
The Philadelphia City Council returned today after a summer recess, with all eyes fixed on the future of the proposed Sixers arena in Center City and potential developments regarding business tax cuts based on the upcoming...more
Navigating K-Street for the C-Suite- “A President Harris’ policies would likely be similar to those of President Biden, with some notable exceptions. But her differing governing priorities and style are what would set her...more
FY25 Budget Will Not Include Wage, Business Tax Cuts City Councilmember Isaiah Thomas (At Large) confirmed Thursday that Philadelphia’s FY25 budget will not include cuts to wage or business tax rates. This decision comes...more
As the saying goes, “April showers bring May flowers.” In Virginia, they also brought a new budget. Nearly a month after Governor Youngkin and the General Assembly agreed to extend budget talks in hopes of reaching a...more
A proposed initiative is being circulated to place on the November 5, 2024 ballot, an ordinance amending the Business and Tax Regulations Code effective January 1, 2025....more
Our Federal & International Tax Group covers notable business and individual tax proposals revealed by the Biden Administration in this year’s Green Book....more
The Revenue Estimating Conference forecasted Iowa’s revenues for fiscal years 2024 and 2025, predicting a slight decline but emphasizing a strong overall budget. Governor Kim Reynolds is required to use this estimate as the...more
Wealthy American families are rushing to relinquish wealth before the end of 2025 when Trump’s 2017 estate tax cuts are set to expire. Families with a net worth of approximately $10 million or higher are working with their...more
Ohio’s Biennial Budget Bill (H.B. 33) was signed into law by Governor DeWine on July 4, 2023. The Bill focused on investments to boost Ohio economic development, education, and healthcare, but also included significant cuts...more
The Ohio House of Representatives passed an $88 billion state budget plan this week that includes tax cuts, infrastructure improvements, additional K-12 public education funding and increased coverage for Medicaid. The...more
Just eight weeks after former Chancellor Kwasi Kwarteng unexpectedly announced the largest package of tax cuts implemented in the UK since the 1970s, the UK Government has now effectively gone into full reverse following new...more
Against a backdrop of rising inflation and increasing concern about a “cost of living crisis” in the UK, the newly appointed Chancellor, Kwasi Kwarteng, laid out the Government’s plans for growing the UK economy in his...more
Kentucky Governor Andy Beshear issued an executive order on February 16, 2022 intended to stop an increase in vehicle property taxes for 2022. Used car values in Kentucky have risen approximately 40% since last year, from...more
Federal interest rates were largely stable in August of 2021.The August applicable federal rate ("AFR") for use with a sale to a defective grantor trust, self-canceling installment note ("SCIN") or intra-family loan with a...more