December 2025 Public Policy Update

As 2025 comes to a close, we wish to express our gratitude for your support throughout the year. Many of you sent letters in support of financial education requirements, walked the halls of Congress with us to visit lawmakers, educated congressional staff on the importance of financial planning and more. This has enabled us to significantly increase momentum in support of CFP Board and our broader work in Washington, D.C., and beyond. Here is a snapshot of our successes this year.

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What Can You Expect in 2026 From CFP Board's Public Policy Team?

• Be on the lookout for an innovative way for you to lend your voice on Capitol Hill! Soon, we will be utilizing software that will allow you to quickly and easily engage with your federal and state elected officials. This tool will streamline how you participate in public policy efforts and help ensure that the voice of CFP® professionals is heard when it matters most.
• We will begin hosting periodic policy update webinars to keep you informed about major developments at the federal and state levels. These sessions aim to provide you with a snapshot of what's happening in Washington, D.C., as it relates to the profession, your clients, our advocacy and more.
• The public policy team is spending more time outside CFP Board headquarters to collaborate with peer organizations, coalitions and advocacy partners across Washington, D.C. This increased engagement will strengthen our voice on issues such as retirement security, investor protection, tax policy, workforce development and more.
• Starting next year, we will launch a structured recruitment effort to recruit CFP® professionals interested in supporting our advocacy work. Simply put, your voices matter most as practitioners in the community working with everyday people. Your help can take the form of informing policy positions, participating in legislative meetings, contributing practitioner perspectives in comment letters and more. Let us know now if you are interested in participating by completing this form.

That's not all, but these are just some of the highlights to be on the lookout for from CFP Board's Public Policy team.

Please continue reading for our regularly scheduled policy update, and until next year, have a wonderful and joyous holiday season.

CFP Board Applauds Congressional Resolution Recognizing National Financial Planning Month

On November 21, Representatives Young Kim (R-CA) and Joyce Beatty (D-OH) introduced a congressional resolution (H. Res. 908) to designate October 2025 as "National Financial Planning Month." This important resolution recognizes the positive impact of CFP Board and CFP® professionals nationwide. To read more about this and hear directly from the lawmakers, please click here.

*A quick note that this comes well after October due to the shutdown.

Senate Covers 'Future of Retirement'

On December 10, CFP Board submitted a letter for the record to the Senate Health, Education, Labor and Pension Committee regarding its hearing entitled "The Future of Retirement." We applaud the Committee for its leadership in advancing and expanding retirement innovations and urge continued collaboration to ensure all workers have access to a retirement plan. We also thank Chad Williams, CFP® for his testimony at the hearing in support of two CFP Board-endorsed bills: the Helping Young Americans Save for Retirement Act (S. 1707 /H.R. 4718) and the Auto Reenroll Act (S. 1831). To learn more, please click here.

Capital Formation Flurry

It might be "let's circle back after the holidays" time, but not for Congress. The House Financial Services Committee is making up for lost time due to the shutdown and unveiled sweeping capital formation legislation - the Incentivizing New Ventures and Economic Strength Through Capital Formation Act (INVEST Act), which is a package of 22 bills, some of which CFP Board weighed in on previously. Specifically, CFP Board supported the Senior Security Act and the Small Entity Update Act and opposed other bills, including the Equal Opportunity for All Investors Act and the Access to Small Business Investor Capital Act. The INVEST Act was passed on December 11 by a vote of 302-123 and will now head to the Senate. We anticipate the Senate will craft its own capital formation package, which will likely differ from the House version.

Crypto Mania

Congress continues to work on comprehensive market structure legislation, with House Financial Services Chair French Hill (R-AR) recently issuing a stark warning to lawmakers to vote on crypto legislation soon, "in order to have America be innovative." A group of 12 Senate Democrats are sharing outlines with Republicans to find common ground on proposed language. Among the provisions they are seeking are a strict separation between digital commodities and securities and robust controls on illicit finance. An additional document released by Democrats calls for restoring the Securities and Exchange Commission (SEC) as the "gatekeeper" for determining whether a product is a commodity or a security.

What's Next for Capitol Hill?

Although the recent continuing resolution (CR) ended the longest-ever government shutdown at 43 days, it only funds the federal government through January 30, 2026. There is pressure to continue working on federal appropriations bills or to pass another CR, which is becoming a pain point for many lawmakers, or face another shutdown.

The extended Affordable Care Act (ACA) premium tax credits are set to expire at the end of the year. Recently, both Senate Republican and Democratic measures to address the issue failed, with each receiving a vote of 51-48. The Republican-led bill would have provided Americans with an annual $1,500 health savings account contribution for those with incomes below a certain threshold. In contrast, the Democratic bill would extend the existing subsidies by three years.