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Space Launch and Reentry Licensing and Permitting User Fees

The FAA provides notice of commercial space launch and reentry user fees required under 51 U.S.C. 50924, as established by the One Big Beautiful Bill Act (Pub. L. 119-21). The fees are assessed per launch or reentry based on payload weight, with two fee schedules: one per pound of payload weight and a maximum user fee cap. Vehicle operators must provide payload weight at least 60 days prior to each mission, and payment is due within 30 days of FAA fee notification. The FAA will incorporate fee terms and conditions into new licenses and permits, though operators remain liable for fees regardless of whether terms are included.

IRS Proposes Wagering Loss Deduction Limit to 90%, Raises Reporting Threshold to $2,000

The IRS has published a notice of proposed rulemaking to amend regulations under sections 165, 6041, 6041A, and 3406 of the Internal Revenue Code. The amendments reflect changes enacted by the One, Big, Beautiful Bill Act (Public Law 119-21). Key changes include limiting the wagering loss deduction to 90 percent of wagering losses (down from the prior 100-percent-of-gains limitation) and raising the information reporting threshold from $600 to $2,000 for payments made after December 31, 2025. Comments are due by June 16, 2026.

House Resolution Expressing Support for Working Families Tax Cuts

The House of Representatives adopted H. Res. 1156 on April 9, 2026, a non-binding resolution expressing support for the Working Families Tax Cuts enacted under Public Law 119-21. The resolution highlights approximately $222 billion in tax refunds delivered for the 2025 tax year, an average $3,750 tax cut for 2026, elimination of taxes on tips ($32 billion relief) and overtime ($90 billion relief), and other provisions benefiting working families. As a symbolic resolution expressing Congressional support, it creates no new compliance obligations or deadlines.