Newly enacted U.S. tax law: Investor considerations

Financial wellness and planning

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. Related Links Article 6 min read Stay ahead: Proactive tax-planning strategies May 08, 2025 Article 6 min read May 08, 2025 Vanguard's economic and market views Article 14 min read Stretched dollar, equities boost diversification case Jun 25, 2025 Article 14 min read Jun 25, 2025 Notes: All investing is subject to risk. Vanguard Information and Insights Subscribe to Vanguard. Get Vanguard news, insights, and timely analysis on the market, delivered straight to your inbox. Read our online privacy notice to learn about how we keep personal information private. You have certain cookies disabled on the Vanguard site. In order to watch videos on this site, you must agree to the use of cookies provided by YouTube. Click here to permit these cookies and watch the videos.