#TrumpTaxCuts

The hashtag #TrumpTaxCuts refers mainly to the Tax Cuts and Jobs Act (TCJA) signed into law by President Donald Trump in December 2017.

Here's a quick overview:

Individual tax cuts: Lowered income tax rates for most individuals and families.

Corporate tax cuts: Reduced the corporate tax rate from 35% to 21% — one of the biggest changes.

Standard deduction: Nearly doubled, but many itemized deductions (like state and local taxes, "SALT") were capped.

Pass-through businesses: Small businesses (LLCs, S-corps) got a special deduction.

Child tax credit: Expanded to help families with children.

Estate tax: The exemption limit was raised, meaning fewer estates paid taxes after death.

Expiration: Most individual tax cuts are set to expire at the end of 2025 unless renewed by Congress.

Why is #TrumpTaxCuts trending now?

In 2025, politicians are debating whether to extend, modify, or let these cuts expire.

Trump and Republicans are campaigning on promises to make the cuts permanent if re-elected.

Democrats argue that the cuts mainly benefited the wealthy and added to the deficit.

Would you like a quick chart showing how different income groups were affected by the Trump tax cuts?