Richard Burness

1 week ago | jdsupra.com | Rosemary Becchi |Gregory Berger |Richard Burness

On May 22, the House of Representatives passed H.R. 1, “The One, Big, Beautiful Bill Act,” legislation authorized under the FY 2025 concurrent budget resolution (H. Con. Res. 14). The bill includes a broad range of tax-and-spending provisions developed by 11 House committees. Title XI, the Ways and Means Committee’s tax title, includes tax provisions adopted by the committee on May 14, after a 17-hour markup. Please see full publication below for more information.

2 weeks ago | jdsupra.com | Rosemary Becchi |Gregory Berger |Richard Burness

On Monday, May 12, House Ways and Means Committee (“Committee”) Chairman Jason Smith (R-MO) released text of the Committee’s tax title for the FY 2025 budget reconciliation bill—the amendment in the nature of a substitute (AINS). Following the release of the text, the Committee released a section-by-section summary of the bill and the Joint Committee on Taxation (JCT) released a description of the bill’s tax provisions and accompanying revenue tables.

May 26, 2023 | jdsupra.com | Rosemary Becchi |Richard Burness |Harold Hancock

House Ways and Means Committee Chairman Jason Smith (R-MO) and committee Republicans released legislation on May 25, 2023, in response to the Pillar Two global minimum tax negotiated by the Organisation for Economic Co-operation and Development (OECD).