💰 5 Fact Friday: What The OBBBA Means For You

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GOVERNMENT
1. One Deal Down, Dozens To Go ⏳

The clock is ticking on America’s trade talks.

The 90-day grace period for negotiations ends Wednesday, meaning new import taxes could soon hit dozens of countries. With one week to spare, Vietnam became the latest country to strike a deal.

Here’s what’s in the agreement:

• A 20% tariff on Vietnamese imports to the U.S. That’s up from the 10% interim rate, but well below the 46% “reciprocal” threat.

• A 40% tariff on goods transshipped through Vietnam from third-party countries. That’s aimed squarely at Chinese exporters trying to route around U.S. duties.

• A 0% tariff on U.S. goods exported to Vietnam. It’s a win for American agriculture, and Trump is hoping it gives car exports (currently paying 32%) a boost.

Vietnam plays a major role in global apparel production. But that’s not exactly a national security priority. So the final tariff level seems to balance raising revenue without forcing a messy manufacturing reshuffle.

Investors liked it, or at least the clarity it brought:

• Nike jumped 4.1%

• Guess rose 3.7%

• On Running climbed 2.9%

• Under Armour added 1.8%

• Lululemon gained 0.5%

Meanwhile, a Japan deal looks less likely.

Trump accused the country of being “spoiled” and floated tariffs as high as 35%. Japan has pushed back, highlighting its investments in American jobs and its key position in the semiconductor supply chain.

As for the July 9 deadline? Trump insists he’s not extending it. Though if history’s any guide, that’s subject to change.

TAX
2. What The OBBBA Means For You 🔍

The One Big Beautiful Bill Act (OBBBA) is officially headed to President Trump’s desk.

After a volley of amendments between chambers, the Senate signed off. The House followed with its final stamp. Now, the sprawling bill is just one signature away from becoming law.

Today, we’re zooming in on the parts that affect you as a taxpayer. Next week, we’ll focus on the investing and business impact.

Here’s what’s likely to change:

🧠 Trump Accounts: Parents of newborns can contribute $1K at birth and up to $5K/year into these new tax-deferred accounts. Like 529 plans, but with more flexibility—including college, job training, or a first home.

🍟 Tips & OT Tax Breaks: Workers earning under $150K can deduct up to $25K in overtime and tip income from taxable wages. Set to expire in 2028.

🚗 Auto Loan Deduction: Buyers of U.S.-assembled cars can deduct up to $10K/year in loan interest for purchases made between 2025-2028. Eligibility phases out at $100K (individual) or $200K (joint).

🏡 SALT Relief: The state and local tax (SALT) deduction cap will rise to $40K for those earning under $500K, but only for five years. After that, it snaps back to $10K.

👵 Bigger Break for Seniors: The senior deduction increases to $6K (up from $4K), phasing out after $75K of income. It’s expected to help 88% of seniors fully offset their Social Security tax burden.

👶 Family Credits Expanded: The bill temporarily increases the Child Tax Credit and enhances the employer-provided Dependent Care Credit.

🎓 Student Aid Shakeup: Pell Grants will now cover more job training and trade programs under a new “Workforce Pell” expansion. Meanwhile, forgiveness programs are being overhauled and new caps are being placed on loan amounts.

💸 Medicaid & SNAP Work Rules: To qualify for benefits, recipients must now work at least 80 hours per month. Medicaid is creating this rule for ages 19 to 64, and SNAP is raising its age cap from 54 to 64. Exemptions apply for health conditions and those with dependents.

📨 Remittance Tax: A new 1% tax will apply to money sent abroad.

Love it or hate it, the details of this 870-page beast are about to hit your paycheck, your benefits, and maybe even your student loans.

FAST FACTS
3. Layoffs, Litigation, And Lower Rates 🚨

⛽ July 4 gas prices hit a 3-year low, saving U.S. drivers an estimated $500 million over the holiday weekend thanks to record production and a Middle East ceasefire.

🏠 Refinance demand surges as mortgage rates hit their lowest level since April, with homeowners jumping at the chance to lock in lower monthly payments.

🧘‍♀️ Lululemon sues Costco for selling dupes, claiming Kirkland-branded lookalikes are misleading shoppers and infringing on IP.

🍍 Del Monte files for bankruptcy and seeks a buyer, despite securing $912M in financing to keep U.S. operations running during restructuring.

📺 Paramount settles Trump’s $20B lawsuit for $16 million and agrees to release future “60 Minutes” interview transcripts of presidential candidates.

🖌️ Figma files to go public on the NYSE under ticker $FIG, boasting 46% YoY revenue growth and a client list that includes Netflix, Duolingo, and Stripe.

🍺 Modelo’s parent blames the immigration crackdown for a drop in beer demand, citing reduced outings and social events among Hispanic consumers.

💼 Microsoft is laying off 9,000 employees to trim management layers and realign around AI and cloud growth.

STOCKS
4. Robinhood Experiments With Tokenized Stocks 🧪

Robinhood just took a bold step toward becoming a crypto-native financial superapp.

At a flashy event in Cannes, France, the company rolled out a wide range of features for both European and American users:

🇪🇺 In Europe:

• Tokenized private shares: EU investors can now buy tokens tied to companies like OpenAI and SpaceX. But heads up—these aren’t actual shares. OpenAI’s legal team has already clarified that they do not endorse this.

• Tokenized U.S. stocks & ETFs: Over 200 stock tokens (think Apple, Nvidia, Tesla) now trade 24/5 in 30 European countries. There are no commissions or spreads, and they’re even eligible for dividends.

• Crypto perpetual futures: Trade digital assets with up to 3x leverage, thanks to a new partnership with Bitstamp.

🇺🇸 In America:

• Cortex, the AI investing assistant: For Gold users, Cortex connects market data, earnings reports, and more to explain asset moves in plain English.

• Smart exchange routing: High-volume traders will now get better prices and lower fees.

• Crypto cash-back card: Spend like normal, earn in crypto. This rewards card launches later this year—and it’s already on my shortlist.

Shares of $HOOD ( ▼ 0.19% ) popped 13% on the news, and are now up over 300% in the last year.

But the rollout raises two big questions:

1) Will U.S. regulators allow tokenized stocks and private shares anytime soon?
2) And even if they do, will retail investors understand the risks of tokenized assets that aren’t actual ownership?

Time will tell. But one thing’s clear: Robinhood is aiming far beyond the stock market.

STOCKS
5. Guess That Stock 🕵️‍♂️

Once the hottest ticker in biotech, this company is now searching for its second act. Can you name the stock?

1. Its breakthrough COVID vaccine turned it into a household name, with shares peaking near $450 during the 2021 pandemic boom.

2. But the good times didn’t last. Vaccine demand plummeted, revenue followed, and the stock has dropped 93% from its highs.

3. This week, it made headlines again with a flu shot that beat the standard version by over 27% in a 40,000-person Phase 3 trial.

4. However, just last month, the government canceled a $766 million contract for its bird flu vaccine—possibly due to political pushback against mRNA technology.

5. The company is pushing hard to reinvent itself with 45 drugs in development and 8 in late-stage trials. Just one approval could stop the bleeding and spark a comeback.

Got a guess? Tap here for the answer → 

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