The TrumpTaxCuts were signed into law in December 2017.
Lowered corporate tax rate from 35% to 21%.
Doubled the standard deduction for individuals and families.
Reduced individual income tax rates across most brackets.
Added a $2,000 child tax credit per qualifying child.
Capped state and local tax (SALT) deductions at $10,000.
Benefited corporations and high-income earners the most.
Critics argue it increased the national deficit by trillions.
Supporters claim it stimulated strong economic growth and job creation.
Debate continues on its long-term impact on American families and economy.