AICPA Releases Statement on Text of Senate Bill Regarding Pass-Through Entities
Washington, D.C. (June 28, 2025) – President and CEO, Mark Koziel, CPA, CGMA, of the American Institute of CPAs (AICPA) released a statement following the release of the text of the U.S. Senate’s reconciliation bill:
“We applaud the commitment of Members of Congress and the Administration to ensure that the budget reconciliation bill continues to preserve parity between C corporations and pass-through entities so that all businesses can continue to grow the economy and invest in their communities. Earlier versions of the legislation increased tax burdens for pass-through businesses across the country by imposing new limits on their ability to deduct state and local taxes. We are incredibly grateful to the Senate Finance Committee and members of the Senate and the House for their diligent work to reject new tax increases on pass-through entities and support the business community.
“As the reconciliation process continues, we urge members of the Senate and the House of Representatives to adopt the Senate’s position regarding pass-through entities and support the removal of new limitations of the SALT deduction.
“As has been expressed by many of our partners in state CPA societies and other professional service businesses, imposing a new limit on the deduction of state and local taxes for pass-through businesses creates unnecessary complexity and disparity in the tax code and is harmful to millions of businesses nationwide. We are appreciative that so many members of the House and Senate have recognized this and encourage Congress continue supporting businesses and local economies”
About the American Institute of CPAs
The American Institute of CPAs (AICPA) is the world’s largest member association representing the CPA profession, with 397,000 members and a history of serving the public interest since 1887. AICPA members represent many areas of practice, including business and industry, public practice, government, education, and consulting. A founding member of the Association of International Certified Professional Accountants, the AICPA sets ethical standards for the profession, attestation standards, and U.S. auditing standards for private companies, not-for-profit organizations, and federal, state, and local governments. It develops and grades the Uniform CPA Examination, offers specialized credentials, partners across the profession to build future talent, and drives continuing education to advance the vitality, relevance, and quality of the profession.
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BACKGROUND:
June 24, 2025 – In a letter to the Senate Finance Committee, the AIPCA offered its endorsement of several provisions, its concerns regarding the PTET SALT deduction, its request for clarification of the SALT proposal and two recommendations the excess business loss rule and casualty loss deduction.
June 18, 2025 – The AICPA issued a press release expressing appreciation to Senate for efforts to “improve and correct” House bill
June 12, 2025 – The AICPA & State CPA Societies raise concerns over PTET SALT deduction elimination in letter to Senate Finance Committee
May 29, 2025 – AICPA letter to Senate on the One Big Beautiful Bill Act
May 20, 2025 – AICPA comment letter: AICPA Leadership Letter on PTET Deduction
March 3, 2025 – AICPA comment letter: Permanent, Consistent, and Clear Disaster Relief Tax Legislation
February 13, 2025 – AICPA comment letter: AICPA Recommendation to Amend Qualified Business Income Deduction
June 6, 2023 – AICPA comment letter: S. 1761, the Red Tape Reduction Act
April 11, 2023 – AICPA comment letter: Freedom to Invest in Tomorrow’s Workforce Act (H.R. 1477)
December 8, 2017 – AICPA comment letter: Conference of the House and Senate-passed versions of the Tax Cuts and Jobs Act
November 13, 2017 – AICPA comment letter: Tax Cuts and Jobs Act
Contact: Veronica L. Vera
202-434-9215
Veronica.Vera@aicpa-cima.com