Republicans Pass H.R.1 One Big Beautiful Bill Act Before July 4 With Overtime, Tax, Housing, and Life Sciences Impacts

Congress has passed the One Big Beautiful Bill Act, which includes various provisions affecting overtime, taxes, and housing. The legislation, identified as H.R.1, was passed by Republicans ahead of the July 4 deadline. The bill's tax provisions have been analyzed in detail, comparing the House and final Senate versions, with specific implications for businesses and industries such as life sciences. The act is expected to have broad impacts on employer overtime obligations, housing markets, and business taxation.