#TrumpTaxCuts

In 2017, former President Donald Trump signed the Tax Cuts and Jobs Act (TCJA) into law — one of the most significant overhauls of the U.S. tax code in decades.

Key points about the Trump tax cuts:

Corporate tax rate was slashed from 35% to 21%, aiming to boost business investment and job creation.

Individual tax rates were reduced across most income brackets, with nearly all taxpayers seeing lower rates.

Standard deduction nearly doubled, making tax filing simpler for many households.

Child tax credit was expanded to provide more support for families.

State and local tax (SALT) deductions were capped, which particularly impacted higher-tax states.

Supporters argued these cuts stimulated economic growth and increased take-home pay. Critics said the benefits favored corporations and the wealthy, and that it increased the federal deficit.

Many provisions for individuals are set to expire in 2025 unless extended by Congress.