#TrumpTaxCuts The #TrumpTaxCuts, enacted through the 2017 Tax Cuts and Jobs Act, significantly reshaped the U.S. tax code. The legislation lowered corporate tax rates from 35% to 21%, aiming to boost business investment and economic growth. For individuals, it reduced tax rates, increased the standard deduction, and expanded child tax credits. Supporters praised the cuts for stimulating the economy and increasing wages, while critics argued they disproportionately benefited corporations and the wealthy, adding trillions to the national debt. The tax cuts also introduced temporary provisions for individuals, many of which are set to expire, raising questions about long-term fiscal impacts.