#TrumptaxCuts $The Trump Tax Cuts, officially known as the Tax Cuts and Jobs Act (TCJA), were signed into law by President Donald Trump in December 2017. Key aspects include:

- *Corporate Tax Rate*: Reduced from 35% to 21%

- *Individual Tax Rates*: Lowered across various income brackets

- *Standard Deduction*: Doubled to $12,000 for individuals and $24,000 for married couples

- *State and Local Tax (SALT) Deduction*: Capped at $10,000

- *Pass-Through Business Income*: 20% deduction for qualified businesses

The TCJA aimed to stimulate economic growth, increase competitiveness, and provide tax relief for individuals and businesses. However, its impact and effectiveness are debated among economists and policymakers.