Tax Cuts and Jobs Act, Federal Budget, Tax Legislation

Overview of the Tax Provisions in the One Big Beautiful Bill Act

Pullman & Comley, LLC on 8/5/2025

On July 4, 2025,, the One Big Beautiful Bill Act (OBBBA) became law. The Act itself was almost 1,000 pages. It made many of the provisions of the 2017 Tax Cuts and Jobs Act permanent and included new federal tax provisions....more

Congress Spares Tax-Exempt Bonds in the One Big Beautiful Bill Act

Spilman Thomas & Battle, PLLC on 7/23/2025

Throughout the first six months of 2025, proponents of tax-exempt bond financing feared that Congress might eliminate the exemption of interest on such bonds from federal income taxation in its search for spending reductions...more

The OBBB Renews and Makes Permanent Qualified Opportunity Funds

Troutman Pepper Locke on 7/21/2025

On July 4, 2025, President Trump signed the “One Big Beautiful Bill Act” (OBBB), H.R. 1, into law. The OBBB extended and made permanent the general qualified opportunity fund (QOF) legislative framework for investments in...more

Summary of key provisions in House reconciliation bill

A&O Shearman on 5/29/2025

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

Tax Bill Proposes Trillions in Tax Cuts and Significant Tax Increases

BakerHostetler on 5/15/2025

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

Open Sesame: Budget Resolution Clears the Way for Tax Cuts

Cadwalader, Wickersham & Taft LLP on 4/29/2025

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