#TrumpTaxCuts

The Trump Tax Cuts, officially known as the Tax Cuts and Jobs Act (TCJA), were signed into law in December 2017. They represented the most significant overhaul of the U.S. tax code in decades. Key features included reducing the corporate tax rate from 35% to 21%, lowering individual income tax rates, and nearly doubling the standard deduction. Supporters argued the cuts stimulated economic growth, job creation, and higher wages. Critics claimed they disproportionately benefited the wealthy and added trillions to the national debt. Some provisions, especially for individuals, are set to expire after 2025, potentially impacting future tax burdens.