#TrumpTaxCuts The Trump Tax Cuts, formally called the Tax Cuts and Jobs Act (TCJA) of 2017, brought significant changes to the U.S. tax system. Corporate tax rates were permanently reduced from 35% to 21%, giving businesses a substantial financial advantage. Individual tax cuts were temporary and are scheduled to expire in 2025. The TCJA also introduced measures like bonus depreciation for businesses and adjustments to inflation calculations. While these cuts initially stimulated economic growth, debates persist regarding their long-term impact on federal revenue and income inequality. If you'd like, I can delve deeper into any specific aspect for you!