Taxes July 2, 2025
Trump Risks Voter Blowback as GOP Tax Bill Moves Forward
Polling has found the "big, beautiful bill" is not especially popular with voters, prompting Democrats to see an opening to weaponize it in midterm contests.
General News July 1, 2025
Trump Threatens Elon Musk with Investigations After Budget Feud
President Donald Trump lashed out at former presidential advisor Elon Musk on Tuesday, threatening to investigate his companies and even his immigration status amid their feud over the "big, beautiful bill."
AICPA July 1, 2025
AICPA Applauds Senate Passage of Reconciliation Bill, Encourages House Support
The U.S. Senate passed its reconciliation bill earlier today, which removes the limit on pass-through businesses’ state and local tax (SALT) deductions entirely, generating optimism for those affected businesses.
Taxes July 1, 2025
Trump Tax Bill Passes Senate
The slim 51-50 vote margin sets up a frantic few days in the House, where Republicans have to figure out how to unite to get a bill to President Donald Trump’s desk before his self-imposed July 4 deadline.
Taxes July 1, 2025
Elon Musk Lashes Out at Tax Bill Proponents, Threatens to Unseat Lawmakers
The Tesla CEO is once again threatening to ramp up his political spending, this time targeting nearly every sitting Republican in Congress who has signaled support for President Donald Trump’s multitrillion-dollar tax bill.
Taxes June 30, 2025
Senate Cuts Electric Vehicle Credits From Trump Tax Bill, Draws Ire From Musk
Elon Musk slammed the Senate's latest version of President Donald Trump’s multitrillion-dollar tax bill warning that the cuts to EV and other clean energy credits would be “incredibly destructive” to the country.
Taxes June 30, 2025
Plan to Sell Public Land Knocked Out of Trump Tax Bill
The plan had drawn opposition from members of both parties, and the Senate parliamentarian last week had ruled a more ambitious plan didn’t belong in the budget bill.
Legislation June 29, 2025
AICPA Releases Statement on Text of Senate Bill Regarding Pass-Through Entities
The president and CEO of the American Institute of CPAs, Mark Koziel, CPA, CGMA, has released a statement following the release of the text of the U.S. Senate’s reconciliation bill.
Taxes June 27, 2025
Trump Hints July 4 Deadline Could Change for Tax Bill
“It’s not the end-all. It can go longer,” Trump told reporters at a White House press conference on June 27. “But we’d like to get it done by that time, if possible.”
Taxes June 27, 2025
Tax Carveout for Hillsdale College Ruled Out of Trump’s Bill
The Senate parliamentarian concluded that a section of the tax bill exempting a small number of religious schools, including the Christian liberal arts college in Hillsdale, MI, violated the chamber's procedural rules for the budget reconciliation process.
Taxes June 26, 2025
House Freedom Caucus Members Bash Senate Over Clean Energy Credits in Trump’s Tax Bill
In an opinion column for Newsweek, the caucus members argued that the Senate would preserve “too much” of what President Donald Trump previously called a “scam.”
Taxes June 24, 2025
GOP Considers Canceling Recess to Wrap Up Trump’s Tax Bill
Republican leaders are stepping on the gas to get the giant budget package to President Donald Trump's desk before his July 4 deadline.