Tax Cuts and Jobs Act Signed — $1.5T Cut

Trump signs the Tax Cuts and Jobs Act, the largest overhaul of the US tax code since 1986. The law cuts the corporate tax rate from 35% to 21%, doubles the standard deduction, and temporarily cuts individual rates. Republicans project economic growth; critics note benefits flow primarily to corporations and wealthy individuals and add $1.5 trillion to the deficit over 10 years.