On July 4, 2025, the President signed the “One Big Beautiful Bill Act,” which has sweeping tax changes that will affect individuals and businesses.
Executive Order 14210: Implementing The President's "Department of Government Efficiency" Workforce Optimization Initiative
This EO aims to reform the federal workforce by establishing a hiring ratio to reduce its size and initiating large-scale reductions in force (RIFs) across agencies. Agency heads are directed to prioritize the elimination of positions not mandated by statute or other law, including positions involving diversity, equity, and inclusion initiatives.
Nonprofit and tax-exempt organizations that receive support from federal funding or partnerships may be affected by this EO.
Legal challenges and EO status: While there have been legal challenges to this EO, none have resulted in its revocation.
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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).