On July 4, 2025, the President signed the “One Big Beautiful Bill Act,” which has sweeping tax changes that will affect individuals and businesses.
White House Toolkit
The high volume of activity from the new presidential administration affects private and public sector businesses and organizations across industries.
Taft has assembled a multi-disciplinary White House Working Group to address the range of legal implications businesses and organizations may face in the coming months.
If you have questions or concerns regarding the new administration and its impact on your business, please contact any member of our Working Group or your Taft lawyer.
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Legislative Update: The “One Big Beautiful Bill” Becomes Law and Includes Sweeping Tax Changes Legislative Update: One Big Beautiful Bill Enhances QSBS Tax Benefits There were winners and losers in H.R. 1 of the 119th Congress, also known as the One Big Beautiful Bill (OBBB).Regulatory Update: The Revolutionary FAR Overhaul Has Begun To simplify the FAR, the overhaul implementation will be conducted in two phases: (1) class deviation guidance and (2) formal rulemaking.Legislative Update: Final Tax Bill Preserves Tax-Exempt Bonds and Expands Affordable Housing and Public Finance Provisions On July 3, 2025, the U.S. House of Representatives voted on final passage of H.R.1, an omnibus budget reconciliation tax and spending package referred to as the “One Big Beautiful Bill Act.”