United States: Fiscal & Monetary Policy

Our Legislative & Public Policy team is pleased to provide the May 2026 edition of Capital Snapshot, which includes a monthly summary of the issues, events, and timelines driving federal policy and political decisions.

International tax reform in 2026 introduced structural changes that affect how global income is classified, included, deducted, and limited.

As Iowa's June 2nd primary election approaches, campaign finance disclosures reveal stark fundraising disparities across gubernatorial, congressional, and statewide races. Democratic gubernatorial candidate Rob Sand has amassed over $18 million in cash reserves, dwarfing his Republican challengers, while competitive U.S. Senate and House races show tight financial margins that could determine control of key legislative seats.

Iowa's Senate has advanced a revised property tax proposal that modifies the state's rollback system and introduces age-based homestead exemptions, while the House pursues a different approach with stricter revenue caps.

On April 3, 2026, the White House released a top-level look at its Fiscal Year (FY) 2027 Presidential Budget Request (PBR). We expect more specific information to be released in the coming days and weeks.

The Federal Reserve, which serves as the nation’s central bank, is set to undergo a major leadership transition in May 2026 when Jerome Powell’s term...

The U.S. Department of the Treasury on March 25, 2025, published a notice titled "Compliance Reviews and Related Recoupment Efforts," informing all Coronavirus...

The IRS has obsoleted nine pieces of sub regulatory guidance in accordance with an executive order by President Trump to improve government efficiency by reducing regulations.

The news over the past few weeks has been saturated with reports describing efforts by the new Administration to rein in federal spending and shrink the bureaucracy.