Tax Notes Talk The OBBBA and Beyond: House Republican Details GOP Tax Agenda
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Jul 25, 2025 A House Ways and Means Committee member discusses the One Big Beautiful Bill Act and its significance for the GOP's tax agenda. The evolution of clean energy tax credits is scrutinized, along with innovations in sustainable aviation fuel. International tax policy, especially post-G7 agreements, reveals potential impacts on U.S. trade. The need for bipartisanship in tax discussions shines through, with contrasting priorities between parties and the importance of communicating with constituents. A balanced approach to economic growth and IRS reforms is also emphasized.
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Years in Making OBBBA
- The One Big Beautiful Bill Act was a culmination of years of preparation including the 2017 TCJA.
- The bill reflects bipartisan support on many business and family provisions that were seen as effective.
Energy Tax Credit Outlook
- The clean energy tax credits faced controversy, especially wind and solar projects in certain areas.
- There may be future efforts to adjust energy tax credit phase-outs, but major changes are unlikely.
Future of Retaliatory Tax
- The Section 899 "revenge tax" was removed after the US and G7 agreement to avoid penalizing US companies.
- The future of retaliatory tax measures depends on international cooperation and developments with the OECD.