Day: May 22, 2025

The far-reaching legislation would transfer the responsibilities of the Public Company Accounting Oversight Board to the Securities and Exchange Commission.

As enforcement recedes, organizations should stay vigilant and prepared.

The reconciliation process allows tax and spending legislation to pass with a simple majority in the Senate, but the bill still needs to survive the Byrd Rule.

The bill would end clean electricity tax credits for sources like wind and solar starting in 2029 and require projects to begin construction within 60 days.

It would extend Trump’s first-term tax cuts due to expire Dec. 31, along with new tax relief including raising the limit on deducting state and local taxes.