The Tax Cuts and Jobs Act (TCJA) of 2017 is officially one of the key economic achievements of President Donald Trump. The law significantly reduced the corporate tax rate from 35% to 21%, while simplifying personal income taxes, increasing the standard deduction, and lowering tax rates in many brackets. The goal is to promote investment, create jobs, and stimulate GDP growth. However, critics argue that the TCJA primarily benefits the wealthy and increases the federal budget deficit.