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On July 1, 2025, a little over two weeks after the Senate Finance Committee released its draft tax title (the “Initial Senate Draft”), the U.S. Senate secured sufficient votes to advance its version of the “One Big Beautiful Bill Act” (the “OBBBA”) — a comprehensive budget reconciliation bill — back to the House of Representatives, which voted in favor of the bill on July 3, 2025.

On June 16, 2025, the Senate Finance Committee released its draft tax title for inclusion in the Senate’s version of the budget reconciliation bill, known as the “One Big Beautiful Bill Act” (the “OBBBA”).

On February 27, 2025, the Financial Crimes Enforcement Network (“FinCEN”) announced a suspension of enforcement actions related to the Corporate Transparency Act (“CTA”).

Many companies are considering or currently engaging in acquisitions or investments in startups and established providers of artificial intelligence (“AI”) technology.