#TrumpTaxCuts Trump's tax cuts, enacted in 2017, reduced tax rates for businesses and individuals. Supporters argued that they would stimulate economic growth, investment, and job creation. However, critics pointed out that they disproportionately benefited the wealthy and increased the national debt. The long-term economic impact remains a subject of debate, with studies showing mixed results regarding GDP growth and business investment. Most provisions for individuals will expire in 2025 if not renewed.