On July 4, President Trump signed into law a sweeping new tax package that locks in—and in some cases expands—many of the provisions from the 2017 Tax Cuts and Jobs Act (TCJA). While the headlines have focused on the extension of lower tax rates, there’s a lot more buried in the fine print. And while some parts of the law are permanent, others expire in just four years, setting up another potential policy showdown near the end of the decade.
The new law is a mixed bag of tax relief, expanded deductions, and sunset clauses. For retirees, working families, and high earners in high-tax states, there’s something here for everyone—but also a few caveats that investors need to understand.
This post originally appeared at Investing Daily.