#TrumpTaxCuts The Trump Tax Cuts, officially the Tax Cuts and Jobs Act (TCJA) of 2017, overhauled the U.S. tax code by reducing corporate tax rates from 35% to 21% and temporarily lowering individual tax rates, with most individual provisions set to expire after 2025. The TCJA increased the standard deduction, capped state and local tax (SALT) deductions, and expanded the child tax credit. While proponents argue it spurred economic growth, critics highlight its disproportionate benefits to high-income earners and its contribution to the federal deficit. As the expiration date approaches, debates continue over extending these provisions amidst concerns about fiscal sustainability.