#TrumpTaxCuts The Trump tax reforms, enacted through the 2017 Tax Cuts and Jobs Act, significantly altered U.S. tax policy. Key provisions included slashing corporate taxes from 35% to 21% (permanently) and temporarily reducing individual rates, set to expire in 2025. The law doubled the standard deduction but capped state/local tax deductions, benefiting some filers while limiting others. Critics argued it disproportionately favored corporations and the wealthy, exacerbating income inequality and projected to add $1.9 trillion to federal debt over a decade. Supporters claimed it spurred economic growth via business investment and job creation. Controversy also surrounded Trump’s undisclosed tax returns, fueling debates about personal and elite gains.