The Trump Tax Cuts, passed in 2017 as the Tax Cuts and Jobs Act, aimed to stimulate economic growth by reducing taxes. Corporate tax rates dropped from 35% to 21%, and individual rates were lowered across several brackets. The standard deduction was nearly doubled, but many deductions were limited or removed. Supporters argued it boosted business investment and job creation. Critics claimed it mainly benefited corporations and the wealthy, while increasing the national deficit. Some middle-class Americans saw small tax savings. Overall, the tax cuts reshaped U.S. fiscal policy and sparked long-term debates about fairness and economic impact.
