Money Monday: new tax changes and impact on economy

News

Changes are coming to U.S. tax law in the coming months, and for the most part it’s expected to be good for the economy. 

How fast will we see the impact of changes? Janet Schultheis of Edward Jones sat down in our studio to discuss the possibilities on Money Monday.

Schultheis explained that a small bump in the economy is expected through 2018, but market volatility could be something we talk about this time next year. She also shared a huge change to 529 Plans under the new tax law that could make a big difference for families financially in the Tri-State when it comes education.

529 Plans are set to allow expenses for elementary and middle school under the new law, according to Schultheis. The new rules, which also allow the money from the plans to be used at public schools, means more options for parents when they invest.

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(This story was originally published on Feb. 5, 2018)

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