News & Analysis as of

Tax Reform Tax Cuts

Warner Norcross + Judd

The One Big Beautiful Bill: Impact on Individuals

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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

Jones Day

Qualified Small Business Stock Benefits Expanded in New Tax Bill

Jones Day on

The One Big Beautiful Bill Act expands the qualified small business stock benefits available to founders and investors....more

Cadwalader, Wickersham & Taft LLP

Open Sesame: Budget Resolution Clears the Way for Tax Cuts

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

Cadwalader, Wickersham & Taft LLP

Leaked Memorandum Details Possible House Tax Proposals

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

McDermott Will & Schulte

How Cross-Border M&A May Be Impacted by Trump Administration Tax Reform

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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

Cozen O'Connor

Broad Street Brief: Arena or Research Hub for Center City?

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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

Cozen O'Connor

Cozen Currents: How Harris is Different

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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

Cozen O'Connor

Broad Street Brief: FY25 Budget Will Not Include Wage, Business Tax Cuts

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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

Alston & Bird

Green Book Previews Biden Administration’s Opening Offer in 2025 Tax Reform Debate

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Our Federal & International Tax Group covers notable business and individual tax proposals revealed by the Biden Administration in this year’s Green Book....more

Dentons

December Revenue Estimating Conference Predicts a Stable Fiscal Year

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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

Buckingham, Doolittle & Burroughs, LLC

Ohio Budget Bill highlighted by substantial tax cuts and expanded tax credits, continuing Ohio’s vision of becoming more tax...

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

Dentons

Kentucky: Governor Beshear Halts Vehicle Property Tax Increase, Proposes Sales Tax Cut

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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

Proskauer Rose LLP

Wealth Management Update - August 2021

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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

Robins Kaplan LLP

Financial Daily Dose 1.29.2020 | Top Story: Chipotle fined over thousands of child labor law violations in Massachusetts

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Massachusetts has fined Chipotle $1.4 million as part of a settlement with the restaurant chain over accusations that “it routinely violated [state] labor laws, with authorities estimating more than 13,000 violations from...more

McGuireWoods Consulting

No Surprise: House Passes Tax Reform 2.0

As expected, the House last week passed all three bills in the GOP’s Tax Reform 2.0 package – just before members departed for their month-plus-long recess. Here’s how the votes went down....more

BakerHostetler

House Votes Today on ‘Tax Reform 2.0,’ But Senate Action Unlikely Before Elections

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The House today is likely to approve legislation to make permanent the individual and small-business tax cuts that Congress enacted in 2017, but the Senate won’t consider the measure before the November midterm elections....more

McGuireWoods Consulting

House to Vote on Tax Reform 2.0, Week of Sept. 24

The House Rules Committee will convene on Wednesday, Sept. 26 at 3 p.m. to write a rule for the floor consideration of the Tax Reform 2.0 bills. This means that floor debate and votes could take place as early as Thursday,...more

BakerHostetler

New Tax Cuts Win Approval But Unlikely To Advance in Senate

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Building off of last year’s sweeping tax overhaul, the House Ways and Means Committee approved legislation that would make key provisions of that law permanent. But while most of the tax policies endorsed by the committee...more

McGuireWoods Consulting

Ways and Means Committee Approves Tax Reform 2.0

The House Ways and Means Committee today marked up and approved the GOP’s Tax Reform 2.0 package. Chairman Kevin Brady (R-TX) offered three amendments in the nature of a substitute, which would make a series of minor clerical...more

McGuireWoods Consulting

Tax Reform 2.0: Bills, Bills, Bills

The House Ways and Means Committee today released three bills as part of Tax Reform 2.0: - 1. H.R. 6760 – Protecting Family and Small Business Tax Cuts Act, a bill addressing the individual and small business tax cuts...more

McGuireWoods Consulting

Quick Hits: Tax Reform 2.0 and Rettig Nomination

Tax Reform 2.0 - The House Ways and Means Committee today released three one-pagers on Tax Reform 2.0 – nothing groundbreaking here. The documents simply reiterate the three main goals of Tax Reform 2.0...more

McGuireWoods LLP

Framework for Tax Cuts 2.0

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House Ways and Means Chairman Kevin Brady has just released a two-page framework for Tax Cuts 2.0. As expected, the outline contains no policy specifics but highlights three major themes for the upcoming bill: - 1. Protect...more

McGuireWoods LLP

Please Sir, I Want Some More (on Tax Cuts 2.0)

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It looks like Tax Cuts 2.0 will incorporate a part of the Senate’s Retirement Enhancement and Savings Act or RESA (S. 2526) — which, among other things, would make it easier for small businesses to join multiple employer...more

McGuireWoods LLP

Coming Soon: Tax Cuts 2.0

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Ways and Means Chairman Kevin Brady (R-TX) will release an outline for Tax Cuts 2.0 before the House departs for August recess this week. House GOP tax writers are meeting again today before the rollout....more

McGuireWoods LLP

Tax Cuts in July?

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The “listening sessions” for Tax Cuts 2.0 have begun. Ways and Means Republicans gathered last week to discuss which tax provisions should go into the forthcoming legislative package. Ways and Means Chairman Kevin Brady is...more

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