Capital Snapshot: A Monthly Overview of the Issues, Events, and Timelines Driving Federal Policy Decisions

Our Legislative & Public Policy team is pleased to provide the July 2025 edition of “Capital Snapshot.” This month’s edition of Capital Snapshot contains a review of the landscape of the 119th Congress, including party breakdown of each chamber, and upcoming congressional schedules and key dates. We also provide an overview of the One Big Beautiful Bill Act (H.R. 1 / P.L. No: 119-21), which has now been signed into law. We also provide an update on the state of play and next steps for FY26 federal appropriations. Furthermore, we share legislative and policy updates across a variety of additional key policy areas, including: (1) tax; (2) financial services; (3) trade and tariffs; (4) defense; (5) artificial intelligence; (6) technology; (7) health care; (8) education; and (9) energy and environment. We also take a look at current public opinion polling on President Trump’s job performance and policy priorities, and assess economic factors and conditions that could impact the future political landscape.

© Arnold & Porter Kaye Scholer LLP 2025 All Rights Reserved. This Advisory is intended to be a general summary of the law and does not constitute legal advice. You should consult with counsel to determine applicable legal requirements in a specific fact situation.