#TrumpTaxCuts

The "Trump Tax Cuts" primarily refer to the Tax Cuts and Jobs Act (TCJA) of 2017, a comprehensive tax reform in the U.S. Its main measure was the permanent reduction of the corporate income tax rate from 35% to 21%, aiming for greater global competitiveness and stimulating business investments.

For individuals, the TCJA temporarily reduced income tax rates, doubled the standard deduction, and limited the state and local tax (SALT) deduction to $10,000. However, almost all of these individual changes are scheduled to expire at the end of 2025. 1