Jeff Kang

1 week ago | mondaq.com | Craig Cohen |Jeff Kang

The One Big Beautiful Bill Act, a budget reconciliation bill,passed the United States House of Representatives vote on May 22,2025 and is currently under Senate consideration. The bill, ifenacted, would make sweeping changes to the tax law, including byadding a new section 899 to the Internal Revenue Code. Section 899,if enacted in its current form, could have a material impact onCLOs and other credit products. An overview and summary of the billcan be found here.

1 week ago | mondaq.com | Adrienne Baker |William Cejudo |Craig Cohen |Jeff Kang

In a landmark legislative effort and by a razor-thin vote, theHouse of Representatives passed H.R. 1, the One Big Beautiful BillAct (the “Act”) on May 22, 2025. TheAct delivers on several promises that President Trump made duringhis presidential campaign, including exempting taxes on tips andovertime pay, permitting the deduction of interest on certain autoloans and increasing the standard deduction for seniors.