#TrumpTaxCuts The term "#TrumpTaxCuts" primarily refers to the Tax Cuts and Jobs Act (TCJA) of 2017, enacted during the administration that preceded the current one. This legislation brought about significant changes to the US tax code for both individuals and corporations. Many of these changes are scheduled to expire in 2025.

Key aspects of the 2017 tax cuts included:

* Individual Income Tax: Reduced tax rates across most income brackets, increased the standard deduction, eliminated personal exemptions, and limited certain itemized deductions, such as the deduction for state and local taxes (SALT). The Child Tax Credit was also increased.

* Corporate Tax: Significantly reduced the corporate income tax rate from 35% to 21%. It also included provisions for immediate expensing of certain business investments