#TrumpTaxCuts

The Trump tax cuts, officially known as the Tax Cuts and Jobs Act (TCJA) of 2017, significantly reduced corporate tax rates from 35% to 21% and lowered individual income tax rates across most brackets. The legislation aimed to stimulate economic growth, boost business investment, and increase worker wages. While it led to short-term economic expansion and a strong stock market, critics argue it disproportionately benefited corporations and the wealthy, increased the federal deficit, and had limited long-term impact on wage growth. Supporters claim it enhanced U.S. competitiveness globally. The TCJA remains a major point of debate in U.S. fiscal policy.