#TrumpTaxCuts

Trump's Tax Cuts (#TrumpTaxCuts), enacted in 2017, were among his most prominent economic policies. The law was named the "Tax Cuts and Jobs Act," and aimed to stimulate the economy by reducing taxes on individuals and corporations. It lowered the corporate tax rate from 35% to 21%, and expanded some deductions for families. Supporters argued that the cuts led to economic growth and increased employment, while critics considered them beneficial to the wealthy at the expense of the middle class and increased the federal deficit. It also impacted local taxes and property deductions. Some provisions, especially for individuals, were temporary and will expire by 2025. The debate over its long-term effects continues to this day, making it a key point in American political and economic discussions.