SALT Subsidies Crowd Out Positive Reform

The House of Representatives passed its version of the fiscal year (FY) 2025 budget reconciliation bill on May 22 by the narrow margin of 215 to 214, with one Member voting present. The bill, titled the One Big Beautiful Bill Act (OBBB), now moves to the Senate, which will have the opportunity to amend or rewrite the legislation. Significant changes to the legislation in the Senate are likely. Read Full Article »