#TrumpTaxCuts #TrumpTaxCuts
The #TrumpTaxCuts, officially known as the Tax Cuts and Jobs Act (TCJA) of 2017, marked a major overhaul of the U.S. tax code. Signed into law by President Donald Trump, the legislation lowered the corporate tax rate from 35% to 21% and provided temporary tax reductions for individuals. Supporters argued the cuts spurred economic growth, boosted business investment, and increased take-home pay. Critics, however, claimed the benefits mostly favored corporations and the wealthy, while significantly increasing the national deficit. As many of the individual cuts are set to expire in 2025, the debate over their long-term impact continues to shape U.S. fiscal policy.
Would you like a comparison of pre- and post-TCJA tax brackets?