Report on recent US international tax developments - 31 January 2025

US House Speaker Mike Johnson (D-LA) this week confirmed plans for the House Budget Committee to begin marking up an FY2025 budget resolution when Congress returns to Washington next week. Speaking at a congressional Republican retreat in Florida, the Speaker said this will begin the reconciliation process "where the lion's share of these campaign promises that we made are fulfilled." Speaking at the retreat, President Trump repeated earlier comments that he remains open to either one or two bud…