Unpacking How the Tax Landscape is Changing

The U.S. tax landscape is shifting in ways that carry real implications for investors and households alike. Congress’s passage of the One Big Beautiful Bill Act (OBBBA) makes the Trump-era tax cuts permanent, offering short-term certainty while diminishing the need for urgent year-end tax maneuvers. At the same time, tariff-driven inflation is acting as an indirect tax, disproportionately impacting households with less financial flexibility. Longer-term, OBBBA’s estimated $5 trillion revenue loss raises the likelihood of future tax increases or entitlement reductions – pressures that could reshape both personal financial planning and national fiscal policy.

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