#TrumpTaxCuts The "Trump Tax Cuts," officially known as the Tax Cuts and Jobs Act (TCJA), were a significant tax reform enacted in the United States in December 2017, during the presidency of Donald Trump. Key aspects of this legislation include:

* Reduction of the corporate tax: The corporate income tax rate was drastically reduced from 35% to 21%.

* Reduction of individual taxes: Tax rates were lowered for individuals in various income brackets.

The primary goal of the tax cuts was to stimulate economic growth, create jobs, and simplify the tax code. However, the economic impact of the TCJA has been the subject of intense debate, with differing opinions on its long-term effects on the economy and national debt. One of the issues currently being debated is the extension of these cuts, as they have an expiration date.