diff --git a/CHANGELOG.md b/CHANGELOG.md
index fdd73eb..16d13bc 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,4 +1,12 @@
 # Changelog
+## [1.7.1](https://github.com/googleapis/python-billingbudgets/compare/v1.7.0...v1.7.1) (2022-08-11)
+
+
+### Bug Fixes
+
+* **deps:** allow protobuf < 5.0.0 ([#227](https://github.com/googleapis/python-billingbudgets/issues/227)) ([05e2b67](https://github.com/googleapis/python-billingbudgets/commit/05e2b67596030844c89fac7efbef2d26038f1555))
+* **deps:** require proto-plus >= 1.22.0 ([05e2b67](https://github.com/googleapis/python-billingbudgets/commit/05e2b67596030844c89fac7efbef2d26038f1555))
+
 ## [1.7.0](https://github.com/googleapis/python-billingbudgets/compare/v1.6.2...v1.7.0) (2022-07-16)
 
 
diff --git a/setup.py b/setup.py
index 1e134c6..b1cf541 100644
--- a/setup.py
+++ b/setup.py
@@ -21,7 +21,7 @@
 
 name = "google-cloud-billing-budgets"
 description = "Cloud Billing Budget API API client library"
-version = "1.7.0"
+version = "1.7.1"
 release_status = "Development Status :: 5 - Production/Stable"
 dependencies = [
     "google-api-core[grpc] >= 1.32.0, <3.0.0dev,!=2.0.*,!=2.1.*,!=2.2.*,!=2.3.*,!=2.4.*,!=2.5.*,!=2.6.*,!=2.7.*",