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Takeaways From President Trump’s Revocation of Biden-Era Executive Order on Competition – On August 13, 2025, President Trump revoked Executive Order 14036 “Promoting Competition in the American Economy,” a signature Biden-era antitrust and competition policy. Continue reading

U.S. and International Antitrust Agencies Signal Aggressive Antitrust Enforcement in Procurement, Consumer Products, and Labor Markets – As we previously reported, the Department of Justice and Federal Trade Commission are increasingly monitoring companies for anticompetitive conduct in response to rising costs following the implementation of tariffs. In particular, companies should be prepared for continued, perhaps even greater, monitoring of cartel-like behavior in procurement or commodities spaces, which the Trump Administration has made clear are high priorities in its antitrust agenda. Continue reading

Hart-Scott-Rodino Reporting Threshold Increases by US$6.9 Million – The FTC has begun releasing guidance about sweeping changes to Hart-Scott-Rodino reporting thresholds that are slated to take effect on February 10, but these rule changes are being challenged in court, and there is speculation that the new Trump administration might delay their implementation. 

A Little Too Late: The Department of Justice and Federal Trade Commission’s Last Minute New Antitrust Guidelines for Business Activities Affecting Workers – In a last-ditch effort, the FTC and DOJ issued new guidelines replacing the 2026 “Antitrust Guidance for Human Resource Professionals,” but exactly what role — if any — the new guidelines will play in the future remains in the air.

Aaron Tantleff Weighs in on Trump Administration AI Pivot – ��������; Lardner LLP partner Aaron Tantleff commented in the Roll Call article, “Trump reboots AI policy,” describing the impact on technology clients of the Trump administration’s pivot on artificial intelligence policy.

2023 AI Executive Order Revoked – President Donald Trump’s revocation signals a major policy change, transitioning away from the federal oversight put in place by the previous administration and indicating a preference for less regulation of the artificial intelligence ecosystem. 

Vanessa Miller Assesses State of EV Market Under New Administration – ��������; Lardner LLP partner Vanessa Miller assessed the state of the electric vehicle market under the new administration in The Wall Street Journal article, “How Trump’s Policies Will Slow—but Not Kill—a Transition to Cleaner Energy.”

What Every Auto-Sector Company Should Know About … the New Automotive Tariffs – On April 3, 2025, President Trump issued the full details of the automotive tariffs, including the exact Harmonized Tariff Schedule subheadings to which the automotive tariffs apply. This completed the implementation of the automotive tariffs, first announced on March 26, 2025, which established comprehensive 25% tariffs on imported automobiles (sedans, sport utility vehicles, crossover vehicles, minivans, and cargo vans) as well as light trucks. 

Brainwaves: 100 Days and Beyond | Presidential Policy Shifts Impacting Automotive – In a recent Brainwaves event hosted by the Society of Automotive Analysts and ��������; Lardner LLP, titled “100 Days and Beyond: Presidential Policy Shifts Impacting Automotive,” business and legal executives gathered in Detroit to discuss the significant shifts in presidential policies and their profound impact on the automotive sector.

Foley Attorneys Featured for Automotive Roundtable – ��������; Lardner LLP features in Bloomberg, Forbes, Automotive News, and Autoweek for a roundtable discussion hosted in the firm’s Detroit office on the state of the automotive industry.

Special Foley Automotive Update – Trump Administration and Tariff Policies – This special edition of ��������; Lardner’s Automotive Update provides a summary of key developments affecting the industry.

Renewed AFIDA Enforcement: Key Considerations for Energy and Infrastructure Projects – The renewed focus by the Trump Administration and Congress on enforcement of the Agricultural Foreign Investment Disclosure Act of 1978 (AFIDA) marks a significant shift for foreign-owned developers of energy and infrastructure projects. Continue reading

Tariff Risk Strategies for Renewable Energy Sponsors and Financing Parties – As tariff regimes evolve—particularly under Sections 201 and 301 of the Trade Act—project sponsors and financing parties should be thinking regularly about strategies to allocate and mitigate tariff-associated risks. The urgency of this issue has intensified in recent weeks following a significant escalation in U.S.-China trade tensions. Continue reading

Treasury Releases New Beginning of Construction Guidance for Wind and Solar – Treasury and the IRS today released guidance, Notice 2025-42, regarding what constitutes beginning of construction for solar and wind energy projects with respect to the production tax credit under Section 45Y of the Code and Section 48E of the Code. Continue reading

ITC and PTC Changes Under the Big Beautiful Bill Act – The Big Beautiful Bill Act made a number of changes to the clean electricity production credit under Section 45Y of the Internal Revenue Code, the clean electricity investment credit under Section 48E of the Internal Revenue Code, and other renewable energy tax credits. Continue reading

What’s the Future for Renewable Energy Tax Credits in Congress? – The One Big Beautiful Bill Act has a significant impact on the renewable energy sector, particularly with changes in the phase-out schedules for wind and solar projects under Section 45Y and 48E, as well as the nuances between the “beginning of construction” and “placed in service” language. Continue reading

President Trump Issues Section 232 Proclamation to Establish a Reliable Domestic Supply Chain for Critical Minerals: What You Need to Know Now – The administration has elevated critical minerals to a national security issue, launching trade negotiations and regulatory actions under Section 232, with tariffs still on the table. Companies should expect increased oversight and potential trade or pricing measures. Continue reading

The Trump Administration: Developments in Environmental Policy – From the outset, key goals of the incoming Trump Administration have been: supporting fossil fuel development, ending incentives for renewable energy and energy transition, removing “burdensome” environmental regulations and policies, and stepping back action on climate change and environmental justice initiatives. 

The Environmental Brief: Incoming EPA and Enforcement Regulatory Changes – Campaign promises to dismantle burdensome regulations could lead to significant revisions to the current regulatory landscape, and the Environmental Protection Agency (EPA) has been named as one of these potential targets. The recent presidential election will likely signal a shift in current federal policies, particularly those overseen by the EPA.

Patrick Daugherty Addresses Avenues for Crypto Case Resolution Under New Administration – ��������; Lardner LLP partner Patrick Daugherty addressed how cryptocurrency cases may be resolved under the new administration in the Bloomberg Law article, “Novel Crypto Rulings to Fill Case Flow Void Left by Trump’s SEC.”

CFPB, FDIC, and OCC Updates: Firings, Appointments, and Potential Consolidation – We previously reported on changes to leadership at the Consumer Financial Protection Bureau (CFPB), the halt of all activities at the CFPB, and the impacts to the financial services industry. The environment continues to evolve, intensifying uncertainty for regulation and the industry, as the federal agencies responsible for regulating the financial services industry, including the CFPB, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency, are impacted by the new administration’s overhaul of regulatory agencies.

Foley Attorneys on CFPB Shutdown – Industry in “Wait-and-See Mode” – ��������; Lardner LLP attorneys Christi Lawson, Natasha Dempsey, and Whitney Nicholas assessed the Trump administration’s curtailment of the Consumer Financial Protection Bureau (CFPB) in the Newsweek article, “What CFPB Shutdown Means for Junk Fees.”

New Consumer Financial Protection Bureau Acting Director Expands Freeze to All CFPB Activities; CFPB Office Closes – We previously reported that Treasury Secretary Bessent was named as the acting director of the Consumer Financial Protection Bureau (CFPB), and he subsequently ordered the CFPB staff to halt several activities. However, the situation at the CFPB remains in flux, with more changes occurring over the weekend.

Treasury Secretary Bessent Heads Consumer Financial Protection Bureau, Immediately Orders Freeze of CFPB Activities – On Saturday, February 1, 2025, it was announced that President Donald Trump had removed Rohit Chopra as director of the Consumer Financial Protection Bureau (CFPB). In a statement from the CFPB on February 3, 2025, recently confirmed Treasury Secretary Scott Bessent is now the acting director for the CFPB.

Is the Future of Digital Assets in the United States Bright Again? – President Trump and Acting SEC Chairman Mark Uyeda are moving quickly to change the federal government’s approach to regulating the digital assets ecosystem. Continue reading

SEC and CFTC Extend Form PF Compliance Date Again – On June 11, 2025 the Securities and Exchange Commission and Commodity Futures Trading Commission again extended the compliance date for the most recent Form PF amendments, providing a near four-month reprieve for firms struggling with implementation. Continue reading

Preparing for a “Common-Sense” FAR: What Federal Contractors Need to Know About the Trump Administration’s Plans to Streamline the Federal Acquisition Regulation – On April 15, 2025, President Trump issued Executive Order 14275, “Restoring Common Sense to Federal Procurement,” which directs his Administration to make major revisions to the Federal Acquisition Regulation (FAR)—the voluminous set of rules governing the U.S. Government’s acquisition of products and services—with the stated purpose of making the federal procurement process more “agile, effective, and efficient.”

State of Play: Temporary Pause of Agency Grants, Cooperative Agreements, Loans, and Other Financial Assistance Programs – Office of Management and Budget (OMB) ordered all federal agencies to temporarily suspend grants, cooperative agreements, and loan payments, with the exception of Social Security, Medicare, and “assistance provided directly to individuals.”  

What Every Multinational Should Know About …The New Section 122 Tariffs and Preserving IEEPA Refund Rights – In the immediate aftermath of the U.S. Supreme Court’s decision invalidating tariffs imposed under the International Emergency Economic Powers Act (IEEPA), the Trump administration has moved quickly to replace those tariffs with a new across-the-board tariff under Section 122 of the Trade Act of 1974. Continue reading

What Every Multinational Should Know About…Managing the Aftermath of the Supreme Court’s IEEPA Tariff Decision (Part II) – Following the U.S. Supreme Court’s decision invalidating the IEEPA tariffs, attention is now shifting from whether the tariffs were lawful to how companies can actually recover the billions of dollars at stake. The refund process will likely be complex, protracted, and highly fact-specific, with key issues to be resolved by the Court of International Trade (CIT). Continue reading

What Every Multinational Should Know About…Managing the Aftermath of the Supreme Court’s IEEPA Tariff Decision (Part I) – On February 20, 2026, the U.S. Supreme Court States issued its long-anticipated decisions in Learning Resources, Inc. v. Trump, and the consolidated case Trump v. V.O.S. Selections, Inc., holding that the International Emergency Economic Powers Act (IEEPA) does not authorize the President to impose broad-based tariffs. Continue reading

A New Year and a Renewed Focus on Foreign Influence Laws – Traditionally, the primary U.S. law utilized to unmask foreign influence in domestic politics has been the Foreign Agents Registration Act (FARA) of 1938. While enforcement of FARA had steadily increased in recent years, the first few months of the second Trump administration created uncertainty surrounding the Department of Justice’s (DOJ) prioritization of investigations involving FARA. Continue reading

What Every Multinational Should Know About … Preserving the Right to IEEPA Tariff Refunds (Updated with FAQs) – Any company that has imported goods subject to the Trump administration’s fentanyl-based or global/reciprocal tariffs needs to consider filing an action in the U.S. Court of International Trade (CIT) to preserve the possibility of recovering refunds of these tariffs. Continue reading

IRS Now Permitted to Share Tax Identification Data with ICE: Considerations for Employers – On April 7, 2025, the IRS and ICE entered into an agreement allowing ICE to access taxpayer identity data for immigration enforcement—without a court order. For employers, this raises concerns about how employee data may be used in future investigations. Continue reading

Foreign Terrorist Organizations Designations Provide DOJ With New Civil Forfeiture Authorities and Opportunities – Civil forfeiture is becoming an increasingly important tool in the U.S. Justice Department’s (DOJ) campaign against Transnational Criminal Organizations (TCOs), Foreign Terrorist Organizations (FTOs), and other sanctioned parties. This development is part of the Trump Administration’s ongoing campaign against cartels and other TCOs, which most recently has involved the apparent determination that cartels are nonstate actors in a non-international armed conflict with the United States. Continue reading

What Every Multinational Company Should Know About … the Use of Reshoring to Navigate Tariff Uncertainty – The global manufacturing landscape is undergoing a fundamental shift. In recent years, reshoring — at times discussed more conceptually than executed in practice — has evolved into a strategic response to a range of complex international risks, including tariff unpredictability. Continue reading

The Trump Administration 2.0’s FCPA Enforcement Strategy: What You Need to Know – On June 9, 2025, the U.S. Department of Justice released significant new guidance outlining how it will pursue cases under the Foreign Corrupt Practices Act, marking a reorientation in U.S. anti-bribery enforcement. Continue reading

Another FCA Cybersecurity Settlement Reinforces the Enforcement Trend – A recent United States Department of Justice announcement highlights the fact that the government’s emphasis on cybersecurity enforcement under the False Claims Act is not slowing down. Continue reading

DOJ Criminal Division Updates (Part 3): New Reasons for Companies to Self-Disclose Criminal Conduct – On May 12, 2025, the U.S. Department of Justice (DOJ) announced revisions to its Criminal Division Corporate Enforcement and Voluntary Self-Disclosure Policy (CEP). As a part of the new administration’s priorities and policies for prosecuting corporate and white collar crimes, the head of the Criminal Division directed the Fraud Section and Money Laundering and Asset Recovery Section to revise the CEP and clarify that additional benefits are available to companies that self-disclose and cooperate. Continue reading

DOJ Criminal Division Updates (Part 2): Department of Justice Updates its Corporate Criminal Whistleblower Awards Pilot Program – On August 1, 2024, the Department of Justice’s (DOJ) Criminal Division launched a three-year Corporate Whistleblower Awards Pilot Program (the “Pilot Program”). The Pilot Program marked a significant effort by the DOJ to enhance its ability to fight corporate and white collar crime by enlisting whistleblowers to aid in the effort. Continue reading

DOJ Criminal Division Updates (Part 1): DOJ’s New White Collar Crime Enforcement Plan – On May 12, DOJ’s Criminal Division head, Matthew G. Galeotti, issued a memo to all Criminal Division personnel, entitled “Focus, Fairness, and Efficiency in the Fight Against White-Collar Crime,” to “outline the Criminal Division’s enforcement priorities and policies for prosecuting corporate and white-collar crimes in the new administration.” Continue reading

Federal Judge Restrains Liability for Alleged False DEI Certifications – President Trump’s January 21 Executive Order targeting Diversity, Equity, and Inclusion Programs and, specifically, § 3(b)(iv)) cannot be the basis for liability — at least for one proactive litigant in the Northern District of Illinois. The holding could have broader implications for False Claims Act defendants concerned about evolving certification requirements.

FinCEN Removes Beneficial Ownership Reporting Requirements for U.S. Companies and U.S. Persons, Sets New Deadlines for Foreign Companies – Starting March 21, only foreign companies that have registered to do business in the U.S. will be required to comply with the CTA. 

Treasury Department Announces Suspension of Enforcement of Corporate Transparency Act Against U.S. Citizens and Domestic Reporting Companies – The Department’s announcement would appear to end the CTA regulatory regime for all entities other than foreign companies that have registered to do business in the U.S.

The More Things Change… DOJ’s Latest Cyber Settlement Shows Continued False Claims Act Risk – Although the change in administrations has heralded shifting enforcement priorities at the U.S. Department of Justice, cybersecurity enforcement under the False Claims Act appears to be alive and well.

Renewed Prohibition on Use of Sub-Regulatory Guidance – Key to False Claims Act Cases – “It’s déjà vu all over again.” Attorney General Pam Bondi has not surprisingly renewed the prior Trump administration’s prohibition on the use of sub-regulatory guidance, potentially altering the landscape for False Claims Act cases pursued during the second Trump administration.

Christopher Swift Comments on FCPA Enforcement Pause – ��������; Lardner LLP partner Christopher Swift commented on the Trump administration’s executive order pausing enforcement of the Foreign Corrupt Practices Act in The New York Times article, “Moves by Trump and Bondi Raise Hopes of Those Accused of Foreign Corruption.” Continue reading

Business Impacts of Trump’s Executive Order Pausing FCPA Enforcement – On February 10, President Trump issued an Executive Order, Pausing Foreign Corrupt Practices Act Enforcement to Further American Economic and National Security, signaling a shift in U.S. enforcement priorities regarding foreign bribery. Continue reading

How Risky Are DEI Programs Under Trump 2.0? – Trump executive order to end all DEI and ESG programs under threat of FCA charges. Continue reading

Patent Fees Reimagined: Evaluating the Trump Administration’s Value-Driven Fee Structure and Its Impact on Innovators – The WSJ reports the Trump administration wants to charge patent holders 1% to 5% of their patent’s value to maintain the patent after grant. If implemented, this would mark a dramatic departure from the traditional flat-fee model. Framed as a revenue-raising measure, the plan would drastically reshape the U.S. innovation landscape. Continue reading

The HDHP Telehealth Safe Harbor Returns – For Good This Time – President Trump signed into law the One Big Beautiful Bill Act (OBBBA) on July 4, 2025. The telehealth safe harbor, which allowed first dollar coverage of telehealth services without impacting Health Savings Account eligibility for High Deductible Health Plan members during the COVID-19 pandemic, has returned in the OBBBA. Continue reading

Drug Pricing: Trump Signs “Most Favored Nation” Executive Order – On May 12, 2025, President Trump signed the second drug pricing-related Executive Order (EO) of his current administration. While President Trump’s first drug pricing-related EO focused on lowering the cost of prescription drugs by continuing and modifying the negotiations initiated by the Inflation Reduction Act of 2022 and issuing directives for administrative agencies to initiate cost cuts, this EO focuses on global comparative pricing. Continue reading

Jason Mehta Assesses Trump Administration Scrutiny of Medicare Advantage – ��������; Lardner LLP partner Jason Mehta assessed the potential enforcement approach of the Trump administration on Medicare Advantage plans in the Law360 article, “Medicare Advantage ‘Upcoding’ In Federal Crosshairs.”

Judith Waltz Assesses HHS Plan to Fast-Track Policy – ��������; Lardner LLP partner Judith Waltz weighed in on the U.S. Health and Human Services’ (HHS) plan to speed policymaking through bypassing the public notice and comment process in Modern Healthcare and Report on Medicare Compliance.

Key Takeaways: 7th Annual “Let’s Talk Compliance” Conference – PYA and ��������; Lardner hosted the 7th Annual “Let’s Talk Compliance” two-day virtual conference on January 23 and 24, 2025. Panelists included Foley attorneys and PYA subject matter experts. This key takeaway article explains how the health care & life sciences sector will be impacted by privacy & cybersecurity and antitrust M&A concerns, and how the sector will be affected post-Chevron in the new Administration.

Medicare Payment Model Trends and Economic Drivers – Awaiting Direction from Trump Administration – The Medicare program continues to face long term financial pressures associated with inflationary effects on health care costs and the growing wave of aging baby boomers. The Medicare Trust Fund, which is often viewed as a foil for health care affordability, has long faced a proverbial financing question.

The Executive Order Guaranteeing Fair Banking for All Americans and Its Implications for State Regulation of Insurance Trade Practices Related to Political Opinions – On August 7, 2025, the White House issued an Executive Order titled “Guaranteeing Fair Banking for All Americans,” which is intended to address instances of unfair discrimination in banking decisions by financial institutions driven by reputational, political, religious, and other criteria not based on risk-based analysis. Continue reading

Tariffs and Your Contracts: Why does the contract quantity matter? – If review of a contract indicates an undesirable allocation of tariff costs, consider whether there is even an obligation to purchase or supply under the agreement. Continue reading

Tariffs and Your Contracts: Why does the “importer of record” provision matter? – To ascertain which party in a commercial contract is responsible for tariffs, it is important to check whether the contract specifies the importer of record. Continue reading

Tariffs and Your Contracts: Why do delivery terms matter? – In light of a trade landscape rife with tariffs, companies are examining their commercial contracts to judge the exposure to increased costs of production.  One area of a supply contract that cannot be overlooked when determining this type of exposure is the delivery terms for the product sale. This is because the delivery terms of a contract may identify the party responsible for payment of tariffs. Continue reading

Tariffs and Your Contracts: Why do pricing and tax provisions matter? – President Trump’s shakeup of U.S. trade policy with its approach to tariffs is costing companies billions of dollars. In fact, in June of this year, importers paid the U.S. government customs duties (of which tariffs are a part) of nearly $27 billion, which is a dramatic shift from just over $6 billion paid in June of 2024 (before Trump returned to office). Continue reading

Trump Administration Purports to Fire CPSC Commissioners – Despite Congress’s establishment of the Consumer Product Safety Commission (CPSC or Commission) as an independent agency through the Consumer Product Safety Act, recent events indicate that the Trump Administration is taking further action to ensure its accountability to the president alone.

Leaked Budget Proposal Suggests Major Restructuring of Federal Health and Safety Agencies, Including the Consumer Product Safety Commission – A recently leaked and apparently genuine Office of Management and Budget (OMB) Budget “Passback” memorandum—the OMB’s official feedback mechanism for budget submissions from federal agencies—signals major changes to the Department of Health and Human Services’ proposed discretionary budget for Fiscal Year 2026.

President Trump’s Tariffs Announcement and their Impact on Mexico – President Trump’s announcement of tariffs will impact trade partners across the globe. As it relates to Mexico, products that comply with USMCA regulations are exempt, while those that are not will carry a 25%. With other countries being hit harder by tariffs, Mexico may attract investment from those countries who may want to consider Mexico for their manufacturing operations.

What Every Multinational Company Should Know About … The New Steel and Aluminum Tariffs (Part II) – As reported in our prior article, “What Every Multinational Company Should Know About … The New Steel and Aluminum Tariffs (Part I),” President Trump signed two proclamations on February 10, 2025, imposing 25-percent tariffs on aluminum and steel.

What Every Multinational Company Should Know About … The New Steel and Aluminum Tariffs (Part I) – On February 10, 2025, President Trump signed proclamations titled Adjusting Imports of Steel Into the United States and Adjusting Imports of Aluminum into the United States. The proclamations cover both steel and aluminum tariffs, which will be raised to a flat 25 percent.

Make Food “Healthy” Again: FDA’s Resolution for a Healthier 2025 – The U.S. Food and Drug Administration (FDA) began 2025 with a resolution to make food “healthy” again by announcing rules intended to make it easier for consumers to identify healthy food choices.  The rules include a new ban on the use of red dye No. 3, among others. Continue reading

Andrew Wronski Weighs in on New Administration’s Potential Impact on Manufacturing Sector – ��������; Lardner LLP partner Andrew Wronski is featured for his insights on the incoming presidential administration’s impact upon the manufacturing sector in the Milwaukee Business Journal article, “Tariff-ied of the Future?“ Continue reading

Cybersecurity Executive Order — Key Implications for the Manufacturing Industry – The manufacturing sector is encountering an increasing number of sophisticated threats, including ransomware attacks, vulnerabilities in the supply chain, and intellectual property theft. While the future of Biden’s cybersecurity executive order under the Trump administration is uncertain, manufacturers cannot afford to postpone action. This article, jointly authored with the Cybersecurity Manufacturing Innovation Institute, provides guidance tailored to manufacturing companies navigating this evolving regulatory and threat environment. Continue reading

The pharmaceutical industry is facing a period of significant transition as the Trump administration reshapes federal priorities, enforcement practices, and regulatory expectations. At the same time, state enforcement initiatives continue to evolve. While agencies adjust their strategic focus, companies across the health care and life sciences sector are encountering new pressures and evolving oversight from both federal and state authorities. These changes are influencing how pharmaceutical manufacturers operate, market their products, manage data, and plan for future growth.

The industry is confronting a wide range of emerging legal and business challenges. Shifts in enforcement activity, evolving privacy standards, changing market dynamics, and increased scrutiny across various aspects of pharmaceutical operations all contribute to an uncertain environment. In this blog series, our authors will explore these developments and their implications for the pharmaceutical industry.

��DZ����’s Pharmaceuticals and Health Tech Areas of Focuses will examine oversight trends, data privacy concerns, pricing dynamics, and branding issues, while also continuing to provide updates on corporate, regulatory, and intellectual property matters that affect the sector. Throughout the series, we will highlight how organizations can navigate these challenges and position themselves for success in an evolving legal and business landscape.

Trump’s Second Administration: Impact on the Pharmaceutical Industry – The second Trump administration has been in office for just over one year, but the whirlwind of activity across all areas of the government has created a constant stream of discussion and implementation of policy changes. Meanwhile, the pharmaceutical industry has maintained strong growth over the past few years, fueled by technological innovation, an aging population, and strategic investments. Continue reading

Pharma Data Privacy and Cybersecurity under the Trump Administration – At first glance, the Trump administration’s approach to the pharmaceutical industry appears largely deregulatory. From a data privacy and security perspective, however, the reality is more complex. Rather than eliminating compliance obligations, current policy trends suggest a reshuffling of them. Continue reading

Trump Administration’s Executive Orders Attempt To Reset Sex & Gender Identity Issues in Women’s Sports – In the days immediately following his inauguration, President Trump issued a wide range of Executive Orders, including Executive Order 14201 (Keeping Men Out of Women’s Sports). While EO14201 will likely face legal challenges in implementation, especially given conflicting state laws and the deep political divide, it portends potentially seismic policy shifts around women’s and college sports.

Foley Attorneys Explore Election Impact on NCAA – ��������; Lardner LLP attorneys Jon Israel, Zachary Flagel, and John Riley authored the Sports Business Journal article, “The 2024 U.S. election: A turning point for the NCAA?“ 

Changes to the College and University Endowment Tax – The One Big Beautiful Bill Act modifies the excise tax on net investment income of private colleges and universities under Internal Revenue Code Section 4968. The bill replaces the previous flat 1.4% excise tax (which applied to the net investment income of certain private higher education institutions) to a tiered tax structure. Continue reading

Trump Administration Passes the One Big Beautiful Bill Act – On July 4, 2025, President Trump signed H.R. 1—referred to as the One Big Beautiful Bill Act (OBBBA). The OBBBA extends and makes permanent certain provisions in the 2017 Tax Cuts and Jobs Act that were set to expire in 2025 and adds new tax measures. Continue reading

One Big Beautiful Bill Act – Tax Considerations for Investment Funds – On July 4, 2025, President Donald Trump signed into law extensive tax legislation as part of the One Big Beautiful Bill Act (OBBBA) that will impact the investment fund industry. Perhaps one of the most important aspects of the OBBBA is not what it changes but rather what remains unchanged. Continue reading

ITC and PTC Changes Under the Big Beautiful Bill Act – The Big Beautiful Bill Act made a number of changes to the clean electricity production credit under Section 45Y of the Internal Revenue Code, the clean electricity investment credit under Section 48E of the Internal Revenue Code, and other renewable energy tax credits. Continue reading

The One Big Beautiful Bill Act (OBBBA) Expands and Modifies Opportunity Zones – The opportunity zones tax incentive was enacted in 2017 as a part of the Tax Cuts and Jobs Act to increase long-term investment in “qualified opportunity zones”, which are population census tracts in “low-income communities” and certain tracts contiguous with low-income communities nominated by state governors and certified by the U.S. Department of Treasury. Census tracts were designated in all 50 states and Puerto Rico—these designations were set to expire at the end of 2028. Continue reading

One Big Beautiful Bill Act Permanently Increases the Lifetime Estate, Gift and GST Tax Exclusion – On July 4, 2025, President Trump signed into law the One Big Beautiful Bill Act (OBBBA).  The OBBBA extended and may permanent many key provisions of the 2017 Tax Cuts and Jobs Act, including the Lifetime Estate, Gift, and GST Tax Exclusion.  Continue reading

One Big Beautiful Bill Updates to Qualified Small Business Stock Rules under Section 1202 – As part of the newly enacted One Big Beautiful Bill Act, Congress adopted the first substantive amendments to Section 1202–which prescribes the qualified small business stock rules–in over a decade. Continue reading

Trump Accounts: The New Child Savings Account Established Under the One Big Beautiful Bill Act – On July 4, 2025, President Trump signed into law the One Big Beautiful Bill Act (OBBBA). The OBBBA established a new type of tax-advantaged savings account for minors, known as “Trump Accounts.” Continue reading

What’s the Future for Renewable Energy Tax Credits in Congress? – The One Big Beautiful Bill Act has a significant impact on the renewable energy sector, particularly with changes in the phase-out schedules for wind and solar projects under Section 45Y and 48E, as well as the nuances between the “beginning of construction” and “placed in service” language. Continue reading

Latest FCA Cybersecurity Settlement Shows Enforcement Remains a Priority Under Trump Administration – A recent United States Department of Justice (DOJ) announcement reinforces that enforcement of cybersecurity requirements under the False Claims Act (FCA) remains an ongoing risk. According to the press release, defense contractor MORSECORP Inc. (MORSE) agreed to pay US$4.6 million to resolve a FCA matter arising from a qui tam relator’s suit alleging that MORSE failed to comply with certain U.S. Department of Defense cybersecurity requirements.

Executive Order on Strengthening and Promoting Innovation in the Nation’s Cybersecurity and Potential Implications Under the Trump Administration – The Trump administration’s approach to cybersecurity remains uncertain, but early signs indicate possible adjustments to Biden’s cybersecurity executive order. Regardless of whether the executive order remains in effect, organizations should prioritize cybersecurity to mitigate risks and uphold resilience.