#TrumpTaxCuts

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Trump Tax Cuts: Impact and Legacy

The Trump Tax Cuts, officially known as the Tax Cuts and Jobs Act (TCJA) of 2017, represented one of the most significant overhauls of the U.S. tax code in decades. The legislation lowered the corporate tax rate from 35% to 21% and provided temporary tax relief for individuals, aiming to stimulate economic growth. Supporters argue the cuts boosted business investment, created jobs, and increased wages. Critics, however, contend the benefits primarily favored corporations and the wealthy, while expanding the federal deficit. As key provisions for individuals are set to expire after 2025, debates continue over the law’s long-term effects on inequality, fiscal health, and economic performance, making it a major political issue today.

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