#TrumpTaxCuts The Trump Tax Cuts, officially known as the Tax Cuts and Jobs Act (TCJA), were signed into law by President Donald Trump on December 22, 2017. Here are some key aspects:

- *Corporate Tax Rate:* Reduced the corporate tax rate from 35% to 21%

- *Individual Tax Rates:* Lowered tax rates across various income brackets

- *Standard Deduction:* Doubled the standard deduction from $6,350 to $12,000 for single filers and from $12,700 to $24,000 for joint filers

- *State and Local Tax (SALT) Deduction:* Capped the SALT deduction at $10,000

- *Pass-Through Business Income:* Provided a 20% deduction for certain pass-through business income

The TCJA aimed to stimulate economic growth, increase competitiveness, and provide tax relief for individuals and businesses. However, its impact and effectiveness are subjects of ongoing debate [1].