Tax Policy Update for Week of June 16

• Senate version of the One Big Beautiful Bill Act (OBBBA) tax provisions appears imminent
• Secretary Bessent and congressional Democrats trade blows on tax (and trade) at Senate Finance Committee and Ways and Means Committee hearings
• Treasury Secretary Bessent will testify Wednesday and Thursday at the tax writing committees on the Administration’s proposed FY 26 budget
• Section 899 is very unlikely to be removed, but Senate is actively considering changes

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