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.”
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: Final Tax Bill Preserves Tax-Exempt Bonds and Expands Affordable Housing and Public Finance Provisions Legislative Update: Senate Removes Restrictions on AI Regulations from "Big Beautiful Bill" The U.S. Senate voted to halt an effort to impose a 10-year moratorium on state regulation of artificial intelligence.Executive Order 14273: Lowering Drug Prices By Once Again Putting Americans First This EO aims to reverse the Biden administration's prescription drug policies and restore previous efforts to lower drug prices.Legislative Update: Tax-Exempt Organizations Impacted by the “One Big Beautiful Bill” On May 22, the House of Representatives passed H.R. 1, the “One Big Beautiful Bill,” which includes potentially significant changes for tax-exempt organizations.