#TrumpTaxCuts The Trump tax cuts, formally known as the Tax Cuts and Jobs Act (TCJA) of 2017, significantly altered the U.S. tax code. Key features included:

* Corporate Tax Reduction:

* A major reduction in the corporate tax rate, from 35% to 21%.

* Individual Tax Changes:

* Reduced individual income tax rates.

* Increased the standard deduction.

* Altered various deductions and credits.

* Impact:

* The legislation's impact on the economy and its distribution of benefits has been widely debated.

* Many of the individual tax cuts are set to expire in 2025.

* There is much debate about extending those tax cuts, and how that will effect the national debt.