#TrumpTaxCuts The 2017 Tax Cuts and Jobs Act (TCJA), enacted during the Trump administration, significantly altered the U.S. tax code. Key changes included:

* Reduced corporate tax rates from 35% to 21%.

* Temporary reductions in individual income tax rates.

* Increased the standard deduction.

* Changes to various deductions and credits, like the Child Tax Credit.

These changes have generated ongoing debate regarding their economic impact, particularly concerning their effects on income inequality and the national debt. Many of the individual tax cuts are set to expire in 2025, leading to further policy discussions.