On July 4, 2025, the President signed the “One Big Beautiful Bill Act,” which has sweeping tax changes that will affect individuals and businesses.
Legislative Update: The “One Big Beautiful Bill” Passes the House and Includes Sweeping Tax Changes
On May 22, the House of Representatives passed H.R. 1, the “One Big Beautiful Bill,” with sweeping tax changes that will affect individuals, businesses, and energy policy. The bill must still pass the Senate and will likely change, but given the breadth of the tax changes, prospective planning is worth considering.
View the complete law bulletin here for more information on the individual and business tax provisions, along with the repeal or phase out of several energy credits.
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