On Friday, April 11, President Donald Trump issued a memorandum to clarify that smartphones and certain other electronics are not subject to the now-125% “reciprocal” tariff on imports from China or the 10% “baseline” tariff...more
On April 2, President Donald Trump issued a series of executive orders (EOs) to impose reciprocal tariffs on select countries and revoke China’s eligibility for the de minimis exemption. The long-previewed actions fulfill a...more
On Friday, March 14, 2025, the Senate advanced the Full-Year Continuing Appropriations and Extensions Act, 2025 (H.R. 1968), a continuing resolution (CR) that funds the federal government until Sept. 30, 2025. The House...more
Tariffs are a vital part of the Trump administration’s economic and international policy agenda. Less than two months into the new administration, the president has imposed new tariffs on major trading partners, expanded...more
3/12/2025
/ Canada ,
China ,
Imports ,
International Trade ,
Mexico ,
National Security ,
Popular ,
Section 232 ,
Tariffs ,
Trump Administration ,
United States-Mexico-Canada Agreement (USMCA)
On Feb. 13, President Donald Trump issued a memorandum directing the Secretary of Commerce and U.S. Trade Representative (USTR) to review all tariffs imposed on U.S. exports as well as other non-tariff trade barriers that...more
As of Monday afternoon, Feb. 3, discussions between President Trump, Canadian Prime Minister Justin Trudeau and Mexican President Claudia Sheinbaum have resulted in a one-month delay in implementing tariffs on those...more
On Monday, Jan. 27, President Donald Trump’s Office of Management and Budget (OMB) issued a memorandum (“memo”) directing all federal departments and agencies to “temporarily pause all activities related to obligation or...more
President Donald Trump issued an “American First Trade Policy Memorandum” as part of wide-ranging executive actions on Jan. 20, his first day in office. The memorandum calls for a series of reviews of U.S. trade policy and...more
On Monday, March 11, President Joe Biden released his budget request to Congress (“Budget”) and various accompanying documents. Separately, the Treasury Department released its General Explanations of the Administration’s...more
Earlier today, the White House released its fiscal year (FY) 2025 budget request to Congress. Overall, it proposes $7.3 trillion in total spending, including a proposed $895 billion for defense and approximately $621 billion...more
President Joe Biden delivered his third State of the Union address on March 7, just days after the Super Tuesday primary elections cemented him and former President Donald Trump as the presumptive nominees for their...more
President Joe Biden delivered his third State of the Union address on March 7, emphasizing the tax-policy priorities that will continue to take center stage in his ongoing presidential campaign. Similar to last year’s...more
On Jan. 12, 2024, the House voted 206-177 in favor of a resolution providing for congressional disapproval of the National Labor Relations Board’s (NLRB) new joint employer rule. The final rule, published on Oct. 26, 2023,...more
1/19/2024
/ Browning-Ferris Industries of California Inc. ,
Collective Bargaining ,
Employer Liability Issues ,
Human Resources Professionals ,
Joint Employers ,
New Legislation ,
NLRA ,
NLRB ,
Staffing Agencies ,
Unions ,
Wage and Hour
As Congress heads into 2024 and President Biden starts the last year of his term, a host of tax issues remain unaddressed, including a much-anticipated expiring tax provisions package, pending regulatory guidance, the outcome...more
On Monday, Oct. 30, President Biden signed an Executive Order (EO) on the Safe, Secure and Trustworthy Development and Use of Artificial Intelligence (AI). The EO is intended to establish safety standards for leading...more
As part of its pledge to improve student loan programs and advance diversity and opportunity in higher education, the Biden administration has forgiven a total of $127 billion in student debt for 3.6 million borrowers,...more
On Saturday, May 27, House Speaker Kevin McCarthy (R-CA) and President Joe Biden reached an agreement to suspend the debt ceiling until January 2025 in conjunction with new spending reforms intended to reduce the federal...more
The Treasury Department and the Internal Revenue Service (IRS) released IRS Notice 2023-38 (Notice) on May 12, 2023, providing interim guidance on domestic-content requirements under the Inflation Reduction Act (IRA). The...more
On Thursday, April 6, the Treasury Department and Internal Revenue Service (IRS) issued their long-term Strategic Operating Plan (SOP), outlining how the IRS intends to spend $79.4 billion in funding provided by the Inflation...more
Treasury Department and IRS Release Preliminary Guidance on Semiconductor Tax Credit. On March 23, the Treasury Department and IRS published proposed regulations for implementing the new section 48D advanced manufacturing...more
On Thursday, March 9, President Joe Biden released his $6.9 trillion Budget and various accompanying documents. Separately, the Treasury Department released its Green Book, which provides more detailed descriptions of the tax...more
Biden to Release 2024 Budget Proposal Later this Week. On March 9, President Joe Biden will send his updated budget proposal to Congress, outlining the administration’s policy priorities for fiscal year 2024. Biden is...more
Earlier today, the White House released its fiscal year (FY) 2024 budget request to Congress. Overall, it proposes $6.9 trillion in total spending, including a proposed $880 billion for defense and approximately $992 billion...more
TAX TIDBIT -
Progress on Werfel and Blatchford Appointments, Other Nominations Delayed. Following the retirement of former IRS Commissioner Chuck Rettig in early November 2022, the tax-administration agency has been...more
Debt Limit Negotiations Stall as Treasury Department Begins Extraordinary Measures. On Jan. 19, the U.S. government reached its $31.4 trillion borrowing limit, which was signed into law by President Joe Biden late last year....more
2/10/2023
/ Data-Sharing ,
International Tax Issues ,
IRS ,
Legislative Agendas ,
New Legislation ,
Oil & Gas ,
Proposed Legislation ,
SECURE Act ,
Senate Finance Committee ,
Tax Cuts and Jobs Act ,
U.S. Treasury ,
Ways and Means Committee