#TrumpTaxCuts In 2017, the Tax Cuts and Jobs Act, commonly known as the #TrumpTaxCuts, reshaped the U.S. tax landscape. Signed into law by President Donald Trump, this legislation slashed corporate tax rates from 35% to 21%, doubled the standard deduction for individuals, and lowered income tax rates across most brackets. Proponents hailed it as a catalyst for economic growth, arguing it put more money in the pockets of businesses and hardworking Americans.

Data from 2018-2019 showed a GDP boost, with growth peaking at 2.9% in 2018, and unemployment hitting historic lows, especially for minority groups. Businesses, flush with savings, ramped up investments and job creation—at least initially. Supporters of #TrumpTaxCuts still point to these metrics as proof of its success.

But critics argue the benefits skewed heavily toward corporations and the wealthy. The Center for American Progress reported that 60% of the tax savings went to the top 20% of earners. Meanwhile, the federal deficit ballooned, with the Congressional Budget Office estimating an additional $1.9 trillion in red ink over a decade. Many middle-class families saw modest savings, but not the transformative gains promised.

As we reflect on #TrumpTaxCuts, the debate rages on: did they supercharge the economy or deepen inequality? The answer depends on who you ask—and where they sit on the income ladder.