#TrumpTaxCuts Trump's tax cuts, implemented in 2017, were one of the main economic initiatives of his presidency. These cuts, which primarily benefited corporations and wealthy individuals, sparked much debate. Supporters argue that they stimulated economic growth, while critics contend that they increased the deficit and exacerbated income inequality.

According to the Budget and Tax Center, the federal budget deficit increased by $1.5 trillion over the first ten years of the cuts. The Center also claims that the majority of the benefits went to the richest Americans.

Nonetheless, some economists argue that the cuts contributed to job creation and economic growth. They point out that the unemployment rate decreased, and GDP growth accelerated following the implementation of the cuts.

The impact of Trump's tax cuts on the economy is likely to be discussed for many years to come.