The 2025 Trump tax plan was a set of tax cuts and reforms enacted by the United States Congress and signed into law by President Donald Trump on December 22, 2017. The plan’s stated goals were to simplify the tax code, reduce the tax burden on businesses and individuals, and stimulate economic growth.
The plan’s major provisions included 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. The plan also made changes to the estate tax, the alternative minimum tax, and the treatment of pass-through businesses.
