#TrumpTaxCuts The hashtag #TrumpTaxCuts usually refers to the Tax Cuts and Jobs Act (TCJA), which was signed into law by President Donald Trump on December 22, 2017.

Here's a quick overview of what it involved:

Corporate Tax Cuts: The corporate tax rate was permanently reduced from 35% to 21% one of the biggest parts of the bill.

• Individual Tax Cuts: Most individual income tax brackets were lowered, standard deductions were nearly doubled, and the child tax credit was expanded. However, many of these cuts are scheduled to expire after 2025 unless renewed by Congress.

State and Local Tax (SALT) Deduction Cap:

• The deduction for state and local taxes was capped at $10,000, which particularly affected high-tax states.