#TrumptaxCuts
The **Trump tax cuts**, officially the **Tax Cuts and Jobs Act (TCJA) of 2017**, were a major overhaul of the U.S. tax system. Key provisions included reducing the corporate tax rate from 35% to 21% and lowering individual income tax rates. Supporters argued the cuts boosted economic growth, raised wages, and brought business investment back to the U.S. Critics claimed they disproportionately benefited corporations and the wealthy while increasing the federal deficit by over **$1.9 trillion**. The cuts are set to expire after 2025 unless renewed. The long-term economic impact remains debated, with mixed results on growth, job creation, and wage increases.