Prepping for the “One Big Beautiful Bill”

When HR 1, officially named the “One Big Beautiful Bill Act,” or OBBA, passed by a narrow margin earlier this year, there were cheers and jeers. Moving forward, there will be questions, adjustments, predictions, and plans. Although there are likely to be changes, revisions, and reinterpretations of the law, there are some specific steps practitioners can take to understand its implications and prepare for the enactment of its various provisions.