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Report on recent US international tax developments - 31 January 2025

31 January 2025

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Information Reporting, Information Reporting, Legislation & Policy, Global, Newsletters

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United States

US House Speaker Mike Johnson (D-LA) this week confirmed plans for the House Budget Committee to begin marking up an FY2025 budget resolution when Congress returns to Washington next week. Speaking at a congressional Republican retreat in Florida, the Speaker said this will begin the reconciliation process "where the lion's share of these campaign promises that we made are fulfilled." Speaking at the retreat, President Trump repeated earlier comments that he remains open to either one or two budget reconciliation bills, saying the end result would be the same. The President also called for action on his campaign priorities: "no...