The U.S. government has been steadily tightening rules relating to who can benefit from clean energy incentives. The One Big Beautiful Bill Act (OBBBA) is the latest step, and it makes one thing crystal clear: if your company has ties to certain foreign governments, your access to federal tax credits could be at risk and
Julie Burrall
One Big Beautiful Bill Act Introduces Significant Domestic and International Tax Changes
Posted in Tax
On July 4, 2025, the “One Big Beautiful Bill Act” (OBBBA) became law. The OBBBA makes significant changes to domestic and international tax provisions, including provisions addressing bonus depreciation, research and experimental (R&E) expenditures, the limitation on interest deductibility under Section 163(j), state and local tax (SALT) deductions, expansion of the qualified small business stock…
US Senate Finance Committee Makes Changes to Proposed Section 899
By Julie Burrall, Steven D. Garden, Lucas Giardelli, David Goett, Jared B. Goldberger, Michelle Jewett, Kenneth Klein, Russell E. Nance, Warren S. Payne, Remmelt Reigersman, Sam Riesenberg & Brennan W. Young on
Posted in Tax
The US Senate Finance Committee has released a substitute (the “Senate version”) for the tax provisions of the “One Big Beautiful Bill,” the budget reconciliation bill currently under consideration by Congress. An earlier version of this bill was passed by the US House of Representatives on May 22, 2025 (the “House version”). Our prior Legal…