#TrumpTaxCuts The Trump Tax Cuts, officially called the Tax Cuts and Jobs Act of 2017, significantly reshaped the U.S. tax system. They lowered the corporate tax rate from 35% to 21% and reduced individual income tax rates temporarily. Supporters claim the cuts boosted economic growth and job creation, while critics argue they mainly benefited the wealthy and expanded the national deficit. The standard deduction was doubled, but deductions like SALT were capped, affecting taxpayers in high-tax states. As the individual cuts are set to expire in 2025, discussions on extending them continue to spark political debate. #TrumpTaxCuts