#TrumpTaxCuts

Trump's tax cuts, officially known as the Tax Cuts and Jobs Act (TCJA) of 2017, were a major reform of the U.S. tax code. President Donald Trump signed this law, reducing the corporate tax rate from 35% to 21% and providing temporary tax cuts for individuals. Supporters argued that these cuts stimulated economic growth, created jobs, and raised wages. Critics claimed that it primarily benefited the wealthy and corporations while increasing the federal deficit. The TCJA also limited tax deductions at the state and local levels. Its long-term impact on the economy remains a topic of debate.