Senate Halts Democrat-Led Push to Reverse IRS Partnership Break

Senate Republicans beat back an effort by Democrats to roll back Trump administration guidance on how the corporate alternative minimum tax should apply to partnerships and their partners.

The 47-51 procedural vote ends the effort by Senate Finance Committee ranking member Ron Wyden (D-Ore.) to overturn IRS Notice 2025-28.

All Republicans voted to block consideration of the measure except for Sen. Susan Collins (R-Maine).

The guidance gives partnerships and partners the ability to choose from among multiple methods to calculate how much of a partner’s income from a partnership goes into calculating the corporate alternative minimum tax.

Democrats created ...