The U.S. House of Representatives Ways and Means Committee has issued a release following its vote on 14 May 2025 to approve the tax provisions of the "One, Big, Beautiful Bill" (budget reconciliation legislation). The provisions as approved are in line with those announced prior to the full committee markup of the legislation (previous coverage). Click the following link for a section-by-section overview of the approved tax provisions.
It is expected that the Bill will be considered by t…