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. The Donald J. Trump Foundation was a U.S.-based private foundation established in 1988 for the initial purpose of giving away proceeds from the book Trump: The Art of the Deal. In the foundation's final years its funds mostly came from donors other than Trump, who did not donate any personal funds to the charity from 2009 until 2014. The foundation gave to health care and sports-related charities, as well as conservative groups. 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.
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