#TrumpTaxCuts

#TrumpTaxCuts

The *Trump Tax Cuts*, formally known as the *Tax Cuts and Jobs Act (TCJA) of 2017*, were a major overhaul of the U.S. tax code during President Donald Trump's administration. The legislation significantly reduced corporate tax rates from 35% to 21%, aiming to stimulate economic growth, encourage business investments, and create jobs. It also provided temporary tax relief for individuals and families through lower income tax rates and increased standard deductions. Supporters argued that the cuts boosted the economy and stock market, while critics claimed they disproportionately benefited corporations and the wealthy. The long-term effects on national debt and income inequality remain points of debate.