#TrumpTaxCuts

The "Trump tax cuts" primarily refer to the Tax Cuts and Jobs Act (TCJA) of 2017, signed into law by then-President Donald Trump. Below is a breakdown of its main components and ongoing discussions:

Main components of the TCJA:

Individual income tax cuts:

Reduction in income tax rates across most tax brackets.

Nearly doubled the standard deduction.

Increased child tax credit.

These individual tax cuts are set to expire at the end of 2025.