#TrumpTaxCuts The Trump Tax Cuts, officially known as the Tax Cuts and Jobs Act (TCJA) of 2017, significantly altered the U.S. tax code. Key features included:

* **Corporate Tax Reduction:**

* The corporate tax rate was slashed from 35% to 21%.

* **Individual Income Tax Changes:**

* Individual income tax rates were adjusted, and the standard deduction increased.

* However, many of these individual tax cuts are set to expire in 2025.

* **Impact and Debate:**

* The TCJA sparked debate about its effects on the economy, national debt, and income inequality.

* There is on going debate about extending the tax cuts, and how that will effect the national debt.

* The act also changed rules around deductions, and credits.

The expiring portions of the TCJA, and whether or not they will be extended, is a very hot topic in current political discource.