On June 16, 2025, the Senate Finance Committee released its draft FY 2025 budget bill, which generally incorporates most of the House’s tax proposals, which we previously summarized here, but also differs in various aspects. ...more
On May 22, 2025, the House of Representatives passed the highly anticipated budget reconciliation bill, referred to as the “One Big Beautiful Bill,” with revisions from the House Rules Committee. On May 21, 2025, the House...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
On May 12, 2025, the House Committee on Ways and Means (WMC) released a draft of the tax provisions of the highly anticipated budget reconciliation bill, referred to as the “One Big Beautiful Bill” Act (OBBB), and on May 14,...more
On May 12, 2025, the Republicans from the House Committee on Ways and Means released an updated draft tax bill. Several of the provisions in the draft would affect tax-exempt organizations. The bill will almost certainly...more
On May 12, 2025, the Republicans on the House Committee on Ways and Means introduced a broad tax reform bill that includes sweeping changes to the Employee Retention Tax Credit (ERTC), also commonly known as the ERC. Chief...more
The new administration and Congress are working towards an extension of the 2017 Tax Cuts and Jobs Act (TCJA), the bulk of which expires at the end of 2025. In late February, the House passed a spending bill (H. Con. Res....more
Republicans hold a trifecta of control after winning the White House, US Senate, and US House of Representatives for the 119th Congress. They will aim to pass an agenda backed by President Trump that is focused on tax cuts,...more
The Senate is in session this week, but the House will not hold votes. House Republicans are gathering at Trump National Doral in Florida for their annual issues retreat starting Monday. A significant portion of the three-day...more
On Tuesday, May 18, the House Ways and Means Subcommittee on Oversight held a hearing on taxpayer fairness at the Internal Revenue Service (IRS). Testifying before the committee were Commissioner for Wage and Investment and...more
The House and Senate will reconvene Tuesday at 2:00 p.m. and Monday at 3:00 p.m., respectively....more
On Nov. 3, the House Rules Committee released updated text for the Build Back Better Act, the budget reconciliation bill, which contains President Joe Biden’s human infrastructure and green energy priorities. This latest...more
The Minnesota legislature concluded its business last evening with Governor Mark Dayton threatening to veto a $17 billion public education funding bill – a threat he carried through with earlier today. The governor issued the...more