President Trump signed the Republican tax bill on Friday, bringing a wave of changes to the way American citizens and businesses pay their taxes. Mr. Trump called it a “historic moment for the American people.”

The new laws are expected to impact many sectors this year. According to Zacks Investment Research research director Sheraz Mian, the tax reform “will have a big impact on corporate profitability … all of it positive,” thereby supporting the stock market, albeit slowly.

Meanwhile, experts project a slight decline in real estate as a result of the bill, as well as a rise in corporate activity such as expansions and acquisitions. For individuals, on the other hand, the tax return process will likely be simpler moving forward.