US Budget Bill - no Legal Finance tax provsion
| Stock | Omni Bridgeway Ltd (OBL.ASX) |
|---|---|
| Release Time | 7 Jul 2025, 9:52 a.m. |
| Price Sensitive | Yes |
US Budget Bill passed without Legal Finance tax
- US Budget Bill signed into law without any tax or other provisions concerning Legal Finance
- Proposed taxation on US Legal Finance never passed beyond initial stage
- Outcome aligns with supportive regulatory reviews in other parts of the world
Omni Bridgeway Limited (Omni Bridgeway) refers to its previous announcement dated 20 June 2025 regarding the US Budget Bill (Bill). The legislative process has now concluded, and President Trump signed the Bill into law on Friday 4 July 2025. Consistent with Omni Bridgeway's expectation, the Bill as enacted does not include any tax or other provisions concerning Legal Finance. The proposed taxation on US Legal Finance never passed beyond the initial stage of the US Senate Finance Committee Reconciliation draft and was never voted on by either chamber of Congress. Omni Bridgeway welcomes this outcome and notes the support for Legal Finance throughout this process from parties across the political spectrum, society, and the broader economy. This outcome aligns with the regulatory reviews in other parts of the world during the last few years, including Australia, the European Union, and the UK, which have been overwhelmingly supportive and have acknowledged the public benefits provided by Legal Finance, including improved access to justice, accountability, and economic development. Omni Bridgeway looks forward to providing further commentary in its 4Q25 quarterly report, which will be published by the end of July, and its financial statements and annual report for FY25 on 28 August 2025.