Energy

Key Takeaways:

  • President Donald Trump signed wide-ranging tax legislation, P.L. 119-21 (the Legislation) on July 4, 2025.
  • The Legislation includes net tax cuts of $4.5 trillion and spending cuts of $1.2 trillion, for a cost compared with current law of approximately $3.3 trillion over the 10-year budget window.
  • The Legislation will affect nearly every sector

On June 22, 2025, Governor Abbott signed the Texas Responsible Artificial Intelligence Governance Act (TRAIGA), which will take effect January 1, 2026. Any business or government agency working with AI in Texas should take note that TRAIGA is not a copy-paste of other states’ laws; rather, it specifically targets intentional misuse of AI, not just