The #TrumptaxCuts officially known as the Tax Cuts and Jobs Act of 2017, brought significant changes to the U.S. tax code, impacting individuals, families, and businesses nationwide. One of the most notable changes was the reduction in the corporate tax rate from 35% to 21%, aiming to boost economic growth and encourage job creation. For individuals, the law lowered income tax rates, nearly doubled the standard deduction, and expanded the Child Tax Credit. However, it also capped state and local tax deductions and eliminated personal exemptions. Supporters argue that the cuts stimulated the economy and increased wages, while critics claim they disproportionately benefited the wealthy and increased the national deficit. Whether viewed positively or negatively, the #TrumpTaxCuts remain a central point in debates over tax policy, economic inequality, and the future direction of fiscal legislation in America.
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