The Tax Cuts and Jobs Act of 2017, also known as the Trump tax cuts, was a significant piece of tax legislation passed by the Republican-controlled 115th United States Congress and signed into law by President Donald Trump on December 22, 2017.
The law made sweeping changes to the U.S. tax code, including reducing the corporate tax rate from 35% to 21%, increasing the standard deduction for individuals and families, and eliminating the individual mandate of the Affordable Care Act.