#TrumpTaxCuts part of the 2017 Tax Cuts and Jobs Act (TCJA), lowered individual and corporate tax rates, doubled the standard deduction, and increased the child tax credit. These cuts are set to expire at the end of 2025. If not extended, individual tax rates will rise, the standard deduction will shrink, and other provisions like the estate tax exemption and business income deduction will revert. Former President Trump and Republicans are pushing to extend these cuts, but doing so could add up to $4.6 trillion to the national debt. Critics argue the benefits mainly favor the wealthy, while supporters claim the cuts promote economic growth and investment. Debates continue as the deadline nears.