#TrumpTaxCuts #TrumpTaxCuts refers to the Tax Cuts and Jobs Act (TCJA), which was signed into law by President Donald Trump in December 2017. It was the largest overhaul of the U.S. tax code in decades. Here's a quick breakdown:

Corporate taxes: The corporate tax rate was permanently lowered from 35% to 21%.

Individual taxes: Most individual income tax rates were reduced, standard deductions were doubled, and personal exemptions were eliminated. However, these individual cuts are set to expire in 2025 unless Congress extends them.

Pass-through businesses (like LLCs, S-corps) got a new 20% deduction on qualified income.

Estate tax exemption: The amount individuals could pass on without paying estate taxes was doubled.

State and local tax (SALT) deduction cap: Taxpayers could only deduct up to $10,000 in state and local taxes, impacting people in high-tax states.

Supporters argue the cuts boosted economic growth, lowered unemployment, and helped businesses invest more.

Critics argue it added significantly to the national debt and disproportionately benefited corporations and wealthy individuals.

With the 2025 expiration approaching, #TrumpTaxCuts is becoming a big political issue again — whether to extend, modify, or let the cuts expire.