Tax Writers Approve Massive Tax Bill with Important Implications

On May 14, 2025, the House Ways and Means Committee approved a large tax bill that would make expiring provisions of the Tax Cuts and Jobs Act (TCJA) permanent. The House of Representatives passed the bill on May 22, 2025. It proposes paying for a number of new tax cuts with a package of tax increases aimed at raising revenue. The legislation includes new real estate provisions, provisions related to Social Security and Medicare, and changes related energy policies, international tax rates, and other areas.

For a comprehensive look at the bill, read BDO’s full article about it here. 

Written by Dustin Stamper. Copyright © 2025 BDO USA, P.C. All rights reserved. www.bdo.com

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