#TrumpTaxCuts

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Trump’s Tax Cuts: What Changed?

The 2017 Tax Cuts and Jobs Act (TCJA), signed by President Donald Trump, marked a major shift in U.S. tax policy. It lowered the corporate tax rate from 35% to 21%, aiming to boost business investment. For individuals, it reduced income tax rates, nearly doubled the standard deduction, and limited state and local tax (SALT) deductions. Supporters claim it stimulated economic growth, while critics argue it disproportionately benefited the wealthy and increased the federal deficit. The full impact remains debated as key provisions are set to expire after 2025.