Jack Miles

1 week ago | mondaq.com | Jack Miles |Andrew Lee

On May 22, 2025, the House of Representatives passed the"One Big Beautiful Bill Act" (the "Bill") by aone vote margin. Set forth below is a summary description of someof the provisions of the Bill. Individual Provisions:• Individual Tax Rates: The rates put inplace pursuant to the 2017 individual tax cuts would have expiredafter the 2025 tax year. The Bill permanently extends the rates andbrackets put in place by the 2017 individual tax cuts.