#TrumpTaxCuts The #TrumpTaxCuts refer to the Tax Cuts and Jobs Act (TCJA) signed into law by President Donald Trump in 2017. Key provisions include [1][2]:

- *Corporate tax rate reduction*: From 35% to 21%

- *Individual tax bracket reductions*: Lower rates, with most changes set to expire after 2025

- *Standard deduction increase*: Nearly doubled to $12,000 for single filers and $24,000 for joint filers

- *SALT deduction cap*: $10,000 limit on state and local tax deductions

- *Estate tax exemption increase*: Doubled to $11.18 million for individuals

The TCJA's impact is debated, with arguments over its effects on:

- *Economic growth*: Boosted growth, investment, and job creation

- *Budget deficits*: Increased deficits and national debt

- *Income inequality*: Disproportionate benefits for high-income individuals and corporations

The TCJA's provisions are set to change after 2025, potentially leading to shifts in tax policies.