In December 2017 Trump signed the Tax Cuts and Jobs Act of 2017, which consisted of a major tax cut for individuals and corporations, while overhauling US tax policy at large. While Republicans touted the measures as significant for the middle class, critics say the bulk of the cuts went to wealthy individuals and corporations, who pay the bulk of the taxes (In 2015, those making over $195,000 accounted for roughly 5% of all returns filed, while paying 59.58% of all federal income taxes).

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