Overriding Interest

The One Big Beautiful Bill Act makes major changes to the Internal Revenue Code’s clean energy tax provisions, particularly to the provisions that were extended, expanded, and established as part of the 2022 Inflation Reduction Act.

The Continuing Appropriations, Agriculture, Legislative Branch, Military Construction and Veterans Affairs, and Extensions Act, 2026 (H.R. 5371) (CR) was signed into law on 12 November 2025, thereby ending the federal-government shutdown that started 1 October 2025. 

Congress created a new framework around payment stablecoins but has done more than regulate a digital asset class—it has quietly set in motion a potential transformation of the regulation of core payment systems. 

Significant recent developments will affect reporting requirements under California’s climate reporting statutes, SB 253 and SB 261