#TrumpTaxCuts

In 2017, then-President Donald Trump signed the "Tax Cuts and Jobs Act," which is considered the largest overhaul of the U.S. tax code in three decades. These tax changes reduced corporate and individual tax rates, with a particular focus on large corporations.

The Tax Cuts and Jobs Act sparked widespread controversy. Proponents claimed that the tax cuts would stimulate economic growth, create jobs, and increase the competitiveness of American companies. Meanwhile, opponents argued that the tax cuts disproportionately benefited the wealthy, increased the national debt, and did not deliver the expected economic growth.

Some studies indicate that the tax cuts led to a slight increase in economic growth in the short term, but they did not achieve the substantial growth promised by supporters. Additionally, the tax cuts significantly contributed to the increase in the national debt.