#TrumpTaxCuts The Trump tax cuts, officially known as the Tax Cuts and Jobs Act (TCJA) of 2017, represented a major overhaul of the U.S. tax code. The law lowered the corporate tax rate from 35% to 21% and reduced individual income tax rates across most brackets. It aimed to stimulate economic growth, boost job creation, and increase business investment. Supporters argue the cuts led to economic expansion and lower unemployment, while critics contend they disproportionately benefited corporations and the wealthy, contributing to higher federal deficits. Several provisions, especially for individuals, are set to expire after 2025 unless extended by Congress.