#TrumptaxCuts

Here's an overview of its impacts:

📈 Economic Growth and Investment

Modest Economic Gains:

Limited Impact on Business Decisions:

💸 Revenue and Deficits

Increased Federal Deficits:

Long-Term Fiscal Impact:

Distributional Effects

Benefits Skewed to the Wealthy:

Limited Relief for Lower-Income Groups:

🔄 Current Developments

Proposals to Extend the TCJA:

Concerns Over Fiscal Responsibility:Key Provisions of the TCJA

Corporate Tax Rate Reduction:

Individual Tax Rate Adjustments:

Standard Deduction Increase:

Personal Exemptions Elimination:

Itemized Deductions Limitation:

Estate Tax Exemption Doubling:

Pass-Through Income Deduction:

Affordable Care Act Individual Mandate Penalty:

Economic Impact and Criticisms

Economic Growth:

Income Inequality:

Federal Deficit:

Current Developments

Extension Proposals:

Fiscal Concerns:

Social Security Implications: