Baseline vs. the Byrd Rule: What’s Next for the Gift and Estate Tax?
By EsqSocial Corporation 14/04/25
On April 10, 2025, the House of Representatives narrowly approved the Senate’s version of the FY 2025 budget resolution, which it passed on April 5, formally aligning both chambers on President Trump’s legislative tax agenda. This critical step unlocks the budget reconciliation process, allowing Republicans to pursue major tax and spending legislation—including a potential extension of the Tax Cuts and Jobs Act (T.C.J.A.) estate and gift tax exemption—with a simple majority in the Senate....
By: Kohrman Jackson & Krantz LLP