Income Taxes Articles

Tax Update: House Budget Committee Blocks Reconciliation Bill

Today, the House Budget Committee rejected Republicans’ multi-trillion-dollar border, energy, and tax package 16 to 21, in a likely temporary setback for the reconciliation bill over concerns from conversative Republicans over several aspects of the legislation....

House Ways and Means Committee Budget Completes Reconciliation Markup

On Tuesday afternoon, May 13, the Ways and Means Committee (“Committee”) started its markup of the tax title for the FY2025 budget reconciliation bill. The Committee favorably reported the bill on Wednesday morning, May 14, by a party-line vote of 26-19. During...

Translating the Initial Ways and Means Legislative Language Ahead of Tuesday’s Markup

Key Takeaways and Implications of this Initial Tax Language On Friday evening, Ways and Means Committee Chairman Jason Smith (R-MO) released initial legislative language for the Committee's scheduled markup on Tuesday, May 13, at 2 p.m. In general, the 28-page...

Tax Update: Ways and Means Notices Tuesday Markup

Tax Update: House Ways and Means Committee Notices Tuesday Markup, Releases Preliminary Legislative Text On May 9, the House Ways and Means Committee noticed a markup of its portion of the House reconciliation bill to be held on Tuesday, May 13, at 2 pm ET. ...