#TrumpTaxCuts The Trump tax cuts, officially known as the Tax Cuts and Jobs Act (TCJA) of 2017, significantly overhauled the U.S. tax code by reducing the corporate tax rate from 35% to 21% and lowering individual tax rates across various brackets. Proponents argue that these cuts stimulated economic growth, increased business investment, and led to higher wages for workers. However, critics contend that the tax breaks disproportionately favored corporations and wealthy individuals, contributing to an increase in the national deficit without delivering the promised broad-based economic benefits. The long-term impact of these tax cuts continues to be a topic of debate among economists and policymakers.