#TrumpTaxCuts This was a central element of the legislation, aimed at stimulating business investment and economic growth.

* Individual Income Tax Changes:

* Individual income tax rates were also lowered, though these changes are set to expire at the end of 2025.

* The standard deduction was increased, and personal exemptions were eliminated.

* There were changes to various deductions, including a limit on state and local tax (SALT) deductions.