#TrumpTaxCuts

Donald Trump's tax cuts, as outlined in the 2017 Tax Cuts and Jobs Act (TCJA), aimed to boost economic growth and provide relief to individuals and businesses. Key aspects include¹ ²:

- *Individual Tax Cuts*: Lowered tax rates for job creators and workers, with a focus on benefiting low- and middle-income earners.

- *Corporate Tax Rate*: Reduced from 35% to 21%, with a proposed further cut to 15%.

- *Small Business Relief*: A 20% deduction for pass-through income, helping small businesses expand and hire workers.

- *Economic Impact*: The TCJA spurred economic growth, with real wages rising 4.9% in 2018-2019, and created nearly 5 million jobs.

Trump's tax cuts have been credited with driving economic growth, but critics argue they may increase the national deficit.