#TrumpTaxCuts The Trump tax cuts, introduced through the Tax Cuts and Jobs Act (TCJA) in 2017, brought significant changes to the US tax code. Key aspects include ¹ ² ³:

- *Corporate Tax Rate*: Cut from 35% to 21%, boosting business investments and competitiveness.

- *Individual Tax Rates*: Seven brackets collapsed into three, with top rate reduced from 39.6% to 37%.

- *Standard Deduction*: Doubled to simplify tax filing.

- *Child Tax Credit*: Increased by $573.4 billion.

- *Pass-Through Deduction*: 20% deduction for pass-through business income.

The tax cuts' impact is debated, with some arguing they benefited high-income households and corporations, while others see them as driving economic growth ⁴ ¹.