Donald John Trump (born June 14, 1946) is the 45th and current president of the United States. Before entering politics, he was a businessman and television personality. In December 2017, Trump signed the Tax Cuts and Jobs Act of 2017, which cut the corporate tax rate to 21 percent, lowered personal tax brackets, increased child tax credit, doubled the estate tax exemption to $11.2 million, and limited the state and local tax deduction to $10,000.