#TrumpTaxCuts

The "Trump Tax Cuts" primarily refer to the Tax Cuts and Jobs Act (TCJA) of 2017. Here's a summary:

* Key Features:

* It significantly reduced corporate tax rates from 35% to 21%.

* It also lowered individual income tax rates, though these provisions are set to expire.

* The act increased the standard deduction and child tax credit.

* It placed limits on state and local tax deductions.

* Impact:

* The TCJA's effects on the economy are widely debated.

* Supporters argued it would stimulate economic growth, while critics expressed concerns about increased national debt and its disproportionate benefits for high-income earners.

* Many of the individual tax cuts are set to expire in 2025, which is generating much political debate.

* The discussion around the affects of these tax cuts, and whether or not to extend them is still very much a topic of current political and economical discussion.