Trump's Tax Reforms: Goals, Consequences, and Prospects

Overview of Trump's Tax Reforms

Donald Trump's tax policy was one of the key elements of his election campaign. After taking office as president in January 2017, Trump began actively promoting the idea of tax cuts to stimulate economic growth and enhance the competitiveness of American companies. The main provisions of the tax reform were outlined in the Tax Cuts and Jobs Act of 2017, passed by the U.S. Congress in December 2017.

Goals of the Reforms

The main goals of the Trump administration's tax policy included the following aspects:

- Reducing the tax burden: lowering corporate and individual tax rates to increase disposable income for individuals and businesses.

- Stimulating investments: creating favorable conditions for attracting capital and developing infrastructure by providing tax incentives for investors.