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Here's a rundown of the House bill's main provisions impacting people and businesses.
May 23 -
The far-reaching legislation would transfer the responsibilities of the Public Company Accounting Oversight Board to the Securities and Exchange Commission.
May 22 -
The reconciliation process allows tax and spending legislation to pass with a simple majority in the Senate, but the bill still needs to survive the Byrd Rule.
May 22 -
The bill would end clean electricity tax credits for sources like wind and solar starting in 2029 and require projects to begin construction within 60 days.
May 22 -
It would extend Trump's first-term tax cuts due to expire Dec. 31, along with new tax relief including raising the limit on deducting state and local taxes.
May 22 - Accounting Today
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Accountants are helping worried companies deal with the possible fallout from drastic tariff and tax changes.
May 21 -
President Trump said his massive tax package is close to being finalized, but the White House has yet to win over a faction who want more spending cuts.
May 21 -
This year's uncertainty in Washington is resulting in an unclear tax landscape, especially with deductions from real estate holdings and capital expenditures.
May 21Stout -
The revised version of President Donald Trump's economic package would move up work requirements to December 2026 from 2029.
May 21