#XRPETFs The Trump Tax Cuts, formally known as the Tax Cuts and Jobs Act of 2017, represented one of the most significant overhauls of the U.S. tax code in decades. Signed into law by President Donald Trump, the legislation lowered the corporate tax rate from 35% to 21%, adjusted individual income tax brackets, and increased the standard deduction. Supporters argued it stimulated economic growth, job creation, and increased take-home pay for many Americans. Critics, however, contended it disproportionately benefited corporations and the wealthy, added trillions to the national debt, and provided only modest benefits to the middle class. Its long-term impact remains debated.