#TrumpTaxCuts

The Trump Tax Cut, passed in 2017 under the Tax Cuts and Jobs Act, was a major overhaul of the U.S. tax system. It lowered corporate tax rates from 35% to 21%, reduced individual income tax rates, and doubled the standard deduction. Supporters claim it spurred economic growth, boosted investments, and created jobs. Critics argue it mainly benefited corporations and the wealthy, while increasing the federal deficit. The cuts also introduced limits on state and local tax deductions. #TrumpTaxCut remains a highly debated topic, shaping discussions on economic policy, wealth inequality, and the future direction of U.S. taxation.