#TrumpTaxCuts

The #TrumpTaxCuts, formally known as the Tax Cuts and Jobs Act of 2017, marked one of the most significant overhauls of the U.S. tax system in decades. The legislation lowered corporate tax rates from 35% to 21%, aimed at boosting business investment and economic growth. It also adjusted individual income tax brackets, nearly doubled the standard deduction, and limited certain deductions like state and local taxes. Supporters argue that the cuts spurred job creation, stock market gains, and wage growth. Critics, however, contend that benefits favored corporations and the wealthy, contributing to rising deficits without long-term economic transformation. As parts of the law are set to expire, #TrumpTaxCuts continue to be a major topic in political and economic debates.