Trump has introduced tax reforms

In 2017, a tax bill with one of the largest tax reforms in decades passed the Senate and Congress. Trump has championed this as one of the great victories of his presidency and called it a “middle class miracle”^[1]. The reforms implemented have simplified the tax code for American citizens. They also cut rates temporarily until 2025 and individuals benefit from a doubling of the child tax credit and other tax breaks. The Heritage foundation calculates that the average American pays $1,400 less in taxes and a family of four saves an average of $2,900 following the reforms^[2]. These tax cuts reduced the corporate tax rate from 35% to 21% to encourage investment and benefit working Americans. Lowering corporate tax should lead to more hires and the US unemployment rate had been steadily falling before the pandemic^[3].