#TrumptaxCuts The Trump tax cuts, formally known as the Tax Cuts and Jobs Act (TCJA) of 2017, represented a major overhaul of the U.S. tax code. The legislation lowered the corporate tax rate from 35% to 21%, aiming to boost business investment and economic growth. It also reduced individual income tax rates across most brackets and nearly doubled the standard deduction. Supporters argue it spurred economic expansion and job creation, while critics contend it disproportionately benefited corporations and wealthy individuals, contributing to higher federal deficits. Understanding its long-term effects is essential for evaluating future tax policy decisions. #TrumptaxCuts