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Below is this week’s congressional update by BakerHostetler’s Federal Policy team. We’ll continue to post in weeks when both chambers of Congress are in session.

HEADLINES

  • Congress is in its final full week with both chambers in session prior to the long August recess.
  • President Donald Trump will travel to Scotland and meet with British

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