Financial wellness and planning
Newly enacted U.S. tax law: Investor considerations
July 04, 2025
On July 4, 2025, President Trump signed into law a wide-ranging domestic policy bill, which has also been called “the One Big Beautiful Bill.” Aspects of the new law may have implications for investors, including certain tax policy changes, the expansion of 529 education savings plans, and the introduction of a new kind of child savings account.
The law largely extends many expiring provisions from the 2017 Tax Cuts and Jobs Act and includes several new tax-related provisions, including changes related to charitable contributions and deductions for qualified individual seniors.
As a next step, various government agencies, such as the IRS, will likely put forth additional rules and guidance on many of the new law’s provisions in the months ahead. Vanguard will continue to monitor and examine each provision to keep our clients informed and to determine the best ways to help clients achieve their financial goals. Given the complexity of the changes, it’s important that investors consult with a qualified tax advisor to determine whether and how the new tax law will affect them.
Notes: All investing is subject to risk.