#TrumpTaxCuts The Trump Tax Cuts usually refer to the Tax Cuts and Jobs Act (TCJA) signed into law by President Donald Trump in December 2017. It was the biggest overhaul of the U.S. tax code since 1986. Some highlights:

Corporate tax rate: Cut from 35% to 21%.

Individual tax cuts: Lowered tax rates for most income brackets.

Standard deduction: Nearly doubled.

Child tax credit: Increased.

State and Local Tax (SALT) deduction: Capped at $10,000.

Pass-through businesses: Received a 20% deduction.

Expiration: Many individual cuts are set to expire after 2025, while corporate cuts are permanent.