Tax Cuts and Jobs Act of 2017

Reviewed by Derren Joseph Published December 17, 2017 Updated July 30, 2026 1 min read

The Tax Cuts and Jobs Act is a United States Congressional bill to amend the Internal Revenue Code of 1986, effectively altering the rate of taxation for individuals and businesses. It is the major tax reform advocated by congressional Republicans and the Trump administration.

Tax Cuts & Jobs Act text with an American flag graphic and slogans.

Infographic comparing 2017 tax brackets to proposed rates and thresholds.

Table comparing tax provisions before and after the Tax Cuts and Jobs Act.

Table comparing tax deductions and exemptions before and after the Tax Cuts and Jobs Act.

Notes on tax rates and credits, including adjustments for inflation and retroactive rules.

Table comparing estate, gift, and generation skipping taxes under current law and the final bill.

Table comparing current law and the final bill for corporate tax rates, AMT, and dividends received deduction.

Table comparing tax provisions Section 179 Expensing, Increased Expensing, and R&D Tax Credit.

Table comparing tax law changes for interest expense, net operating loss, and like kind exchanges.

Table comparing current law and final bill for pass-through entities deduction for qualified business income.

Text excerpt discussing qualified business income limitations and W-2 wages.

Text discussing W-2 wages, threshold amounts, and deductions for partnerships.

Table summarizing changes to state and local tax, mortgage interest, casualty losses, and miscellaneous itemized deductions.

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