Yes, the 2025 federal budget reconciliation bill, known as the "One Big Beautiful Bill Act," was passed by Congress and signed into law by President Trump on July 4, 2025. The legislation (H.R. 1) was finalized after the Senate passed it 51–50 on July 1, and the House approved it on July 3, 2025.
Senate Passes Historic Budget Reconciliation Bill.
The One, Big, Beautiful Bill Act significantly affects federal taxes, credits and deductions. It was signed into law on July 4, 2025, as Public Law 119-21, and takes effect in 2025.
From October 1 to November 12, 2025, the federal government of the United States was shut down as Congress failed to pass appropriations legislation for the 2026 fiscal year.
The resolution includes reconciliation instructions that direct 11 House committees to submit legislation that will increase or decrease the deficit over FY2025-FY2034 and increase the statutory debt limit by specified amounts. The committees must submit the legislation to the House Budget Committee by March 27, 2025.
Only one Democrat did not vote for the bill, while 34 Republicans voted against it. Early the next morning, in the Senate, the bill passed by an 85–11 vote, and Biden signed the bill later that day, funding the government through March 14, 2025.
Some of the major tax changes effective from April 1, 2025, are revised tax slabs, rebate of up to Rs. 60,000, revised ITRU deadlines, calculation of partner's remuneration allowable as a deduction and revised TDS/TCS threshold limits.
Due to a lapse in government funding, the federal government entered a shutdown at midnight on September 30, 2025. This means that, starting on October 1, the federal government's operations will be drastically reduced.
Yes, you can generally get a passport during a government shutdown because the U.S. Passport Agency is considered essential and funded by fees, so it stays open, but services might slow down or be affected if passport offices are in other federal buildings that close, potentially causing delays. Expect processing to continue, but be prepared for potential slowdowns and limited access to agency locations.
April 10, 2025, the House adopted the Senate's amended version of the budget resolution, which allows $5.3 trillion in deficit-financed tax cuts (the combination of $3.8 trillion of tax cuts assumed to be “costless” under a current policy baseline plus $1.5 trillion in additional deficits permitted), deficit increases ...
In Congress, censure is a formal, public reprimand by a majority vote for serious misconduct by a member or official, requiring them to stand and receive a verbal rebuke, serving as a severe rebuke short of expulsion, often resulting in loss of committee assignments but not office. It's a rare, powerful tool to express disapproval for actions deemed inappropriate, from financial crimes to ethical violations, leaving a permanent mark on their record.
Senate Passes Legislation to Rescind Wasteful Federal Spending. WASHINGTON, D.C. – By a vote of 51 to 48 the United States Senate advanced the Rescissions Act of 2025 to rescind $9 billion in unnecessary, wasteful federal funds.
It ends illegal immigration, restores law and order, provides legal status (no amnesty) for certain long-term undocumented immigrants, strengthens the American workforce, modernizes our legal immigration system, and helps pay down the national debt.
In the Senate, if the reconciliation bill fails to comply with a committee's target, there is a procedure to allow non-germane floor amendments to bring the bill into compliance with the reconciliation instructions.
The dollar amount increase to checks will vary depending on a person's benefit amount, but the average Social Security Retirement benefit, $2,008.31 in July 2025, will grow by about $56.
During a U.S. government shutdown, essential services like Social Security, VA healthcare, and emergency response (FEMA, fire/police) generally continue, but many non-essential federal agencies, national parks, museums (Smithsonian), monuments, IRS offices, and visa/passport processing slow down or close, impacting permits, routine inspections (like FDA), and federal building tours. While parks often remain physically accessible, visitor centers, restrooms, and trash collection cease, creating potential sanitation and safety issues.
Garnishment and Levy Laws
Section 1024 of the Taxpayer Relief Act of 1997 (Public Law 105-30) authorizes the IRS to levy up to 15% of each Social Security payment for overdue Federal tax debts until the tax debt is paid.
February 13, 2025: Introduction of The Income-tax Bill, 2025
A landmark step: the Income-tax Bill, 2025 introduced in Lok Sabha on 13th Feb 2025, intended to replace the Income-tax Act, 1961 with a clearer, simplified framework and proposed commencement from 1st April 2026.
Here's a summary of key changes for the 2025 tax year. The seven federal tax brackets (10%, 12%, 22%, 24%, 32%, 35%, 37%) are now permanent. Standard deductions increased, plus a new “bonus” deduction for older adults. Child tax credit increased to $2,200 per qualifying child.
April 2025 heralds some of the most important changes to employment law in several decades, with the Government's Employment Rights Bill beginning implementation, as well as the obligatory National Minimum Wage increase.