#TrumpTaxCuts

The hashtag #TrumpTaxCuts refers to the Tax Cuts and Jobs Act (TCJA), a significant overhaul of the U.S. tax code enacted in December 2017 during President Donald Trump's administration. As of April 2025, discussions are ongoing about extending or modifying these tax provisions, many of which are set to expire at the end of 2025.

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🧾 Overview of the Tax Cuts and Jobs Act (TCJA)

The TCJA introduced several key changes to the U.S. tax system:

Corporate Tax Rate Reduction: Lowered the corporate tax rate from 35% to 21%.

Individual Tax Rate Adjustments: Reduced tax rates across various income brackets.

Standard Deduction Increase: Nearly doubled the standard deduction.

Personal Exemptions Elimination: Removed personal exemptions.

State and Local Tax (SALT) Deduction Cap: Capped SALT deductions at $10,000.

Child Tax Credit Expansion: Increased the child tax credit.

Estate Tax Exemption Doubling: Doubled the estate tax exemption.

Alternative Minimum Tax (AMT) Reduction: Reduced the impact of