In 2025, President Donald Trump introduced a major new tax cut aimed at boosting economic growth and easing inflation pressures. The plan includes lowering the corporate tax rate from 21% to 15%, offering expanded deductions for small businesses, and introducing middle-class tax relief through reduced income tax brackets. Trump’s administration argues these cuts will stimulate investment, create jobs, and raise wages. Critics, however, warn it could significantly increase the federal deficit and fuel further inequality. The proposal also includes incentives for companies to repatriate overseas profits and boosts for Opportunity Zones. Congress is expected to debate the package heavily, but early indications show strong Republican support.