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Working with the Energy and Commerce and the Agriculture Committees, the U.S. House of Representatives’ Ways and Means Committee advanced its portion of the “One, Big, Beautiful Bill Act” on May 15. The Energy and Commerce and Agriculture Committees have done the same. The House Budget Committee, initially voted down the bill by a vote of 21-16, but passed the bill the next day by a vote of 17-16. The House Rules Committee then began its review of the bill on May 21 (beginning at 1 a.m. ET). House Speaker Mike Johnson has a goal of passing the bill in the House by Memorial Day (May 26) and sending it to President Trump by July 4, 2025. At the time of writing this newsletter, the Rules Committee is still deliberating. Set an alert on the Federal Tax Legislation Tracker (2025) to stay up to date on the bill’s progress.
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