The #TrumpTaxCuts , passed in 2017 as the Tax Cuts and Jobs Act, significantly overhauled the U.S. tax code. It lowered the corporate tax rate from 35% to 21%, aimed at boosting economic growth and encouraging investment. Individuals saw temporary tax reductions, though benefits were skewed toward higher-income earners. Supporters argued the cuts spurred job creation, wage increases, and stock market gains. Critics contended they ballooned the federal deficit and widened income inequality. The cuts remain a major point of political debate, with some provisions set to expire after 2025. Their long-term impact on the economy is still unfolding.