Legislative Updates

KPMG TaxNewsFlash reports of legislative updates in the United States

KPMG reports: Tax subtitle for “One Big Beautiful Bill”

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Latest tax developments from the United States and from KPMG member firms around the globe

June 2025
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Senate votes to begin floor debate on budget reconciliation bill

The Senate vote was 51-49 on the motion to proceed.

June 29, 2025

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Senate Budget Committee Chairman releases updated legislative text for budget reconciliation bill

This legislation could change yet again as the Senate considers the bill.

June 28, 2025

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Senate confirms Kies to be Treasury Assistant Secretary (Tax Policy)

Confirmed by a vote of 53-45

June 27, 2025

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Treasury announces agreement with G7 countries to exclude U.S. companies from Pillar Two taxes in exchange for removing proposed new section 899 from OBBB

Treasury’s announcement only addresses Pillar Two taxes.

June 26, 2025

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Overview of Senate tax measures for budget reconciliation

Updated KPMG reports on bill available soon

June 18, 2025

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Finance Committee releases tax title for Senate version of budget reconciliation bill

Senate bill makes several modifications to the House bill

June 16, 2025

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Senate confirms Long to be IRS Commissioner

Confirmed by a vote of 53-44

June 12, 2025

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JCT releases “Bluebook” on tax legislation in 118th Congress

Bluebook provides explanations and estimated budget effects of tax legislation.

June 4, 2025

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    Highlighted Report

    KPMG report: Tax legislative outlook for the 118th Congress

    The players, components, and motives that will drive tax legislative agenda in the current Congress | February 7, 2023

    Archived reports

    Tax law changes in the "Inflation Reduction Act"

    Preliminary analysis and observations based on information available as of August 16, 2022

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    KPMG reports - TCJA

    Expanded discussions, analyses and observations about the 2017 Tax Cuts and Jobs Act (TCJA)

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    Tax Services

    We bring deep tax experience, industry focus, and advanced technology to deliver results today and opportunities tomorrow. 
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    Business men looking out of a class window
    October 2024
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      September 2024
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      Senate confirms two U.S. Tax Court judges, one nominee remains

      The Senate confirmed Jeffrey S. Arbeit and Benjamin A. Guider III to be U.S. Tax Court judges.

      September 27, 2024

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      Senate confirms U.S. Tax Court judge, three nominees remain

      Rose Jenkins confirmed by a vote of 69-17

      September 24, 2024

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      U.S. House passes bill increasing penalties for illegal tax disclosures

      H.R. 8292, the “Taxpayer Data Protection Act”

      September 18, 2024

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      U.S. House Republican leadership, Ways and Means members express opposition to Pillar Two deal in letter to OECD

      Sent a letter to the OECD Secretary-General expressing their opposition

      September 18, 2024

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      Senate Finance hearing on 2025 tax policy debate; JCT description of present law on income taxation of high income and high wealth taxpayers

      Hearing titled “The 2025 Tax Policy Debate and Tax Avoidance Strategies”

      September 12, 2024

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      House passes bill to exclude electric vehicles with batteries from prohibited foreign entities from clean vehicle credit

      The U.S. House of Representatives passed H.R. 7980 by a vote of 217-192.

      September 12, 2024

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      House Ways and Means approves five assorted tax-related bills; JCT descriptions

      In advance of the markup, the staff of the JCT released descriptions of the bills and the amendments in the nature of a substitute.

      September 11, 2024

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      Vice President Harris releases greater detail on tax proposals

      Vice President and Democratic presidential nominee Kamala Harris this week provided greater details on the tax proposals she previously released.

      September 10, 2024

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        June 2024
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          February 2024
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