#TrumpTaxCuts

The #TrumpTaxCuts were among the most debated policies during Donald Trump's presidency, with major impacts on both individuals and businesses. Signed into law in December 2017, the Tax Cuts and Jobs Act lowered the corporate tax rate from 35% to 21%, aiming to stimulate economic growth and create jobs. For individuals, it adjusted income brackets and nearly doubled the standard deduction, though critics argue the benefits skewed heavily toward the wealthy. Supporters point to strong GDP growth and record-low unemployment rates in the years that followed as signs of success. However, concerns over the ballooning federal deficit and long-term economic inequality remain central to the ongoing debate. Their full impact is still being evaluated today.