#TrumpTaxCuts Understanding Trump’s Tax Cuts

The Trump Tax Cuts, officially known as the Tax Cuts and Jobs Act (TCJA) of 2017, marked a major shift in U.S. tax policy. The legislation reduced corporate tax rates from 35% to 21%, aiming to boost business investment and economic growth. For individuals, it lowered income tax rates across brackets and nearly doubled the standard deduction.

Supporters argue that the cuts spurred job creation and strengthened the economy. Critics, however, point to rising deficits and claim the benefits favored corporations and the wealthy over middle-class families. Some provisions, like lower individual rates, are set to expire in 2025, making the future of the tax code a key issue for upcoming elections. The TCJA remains a defining part of Trump's economic legacy.