05/14/2025

Major Tax Reform Update: Key Changes & What You Need to Know

Check out this update from OSAP Mission Partner Clark Schaefer Hackett

On May 9, 2025, the House Ways and Means Committee released its initial draft of the tax portion of the budget reconciliation bill. The committee replaced that draft with a more robust draft May 12, which included some of the specific promises President Donald Trump made on the campaign trail, among other provisions.

The legislation remains subject to substantial negotiation and change before reaching its final form. At Clark Schaefer Hackett, we are actively monitoring these developments and assessing potential impacts and opportunities for businesses and individuals.

As the bill moves through the legislative process, we will continue to keep you informed and provide insights on significant changes. While the specifics are still evolving, the current bill should provide some insights on where we are headed.

Please select this link to read the complete article from OSAP Member Clark Schaefer Hackett (CSH).