The White House is likely to unveil 10% tax cuts for the middle class in September, Kudlow saysby Gina Heeb, Business Insider US
- President Donald Trump could announce a second tax cut package just months ahead of the 2020 election this fall.
- The long-shot proposal could offer a revamped campaign message after the Tax Cuts and Jobs Act failed to gain widespread support.
- Administration officials have offered conflicting details on tax cuts over the past year, flip-flopping on the type of package the White House would pursue.
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President Donald Trump could announce a second tax cut package just months ahead of the 2020 election this fall, offering a revamped campaign message after the first round failed to gain widespread support.
“We’d love to have a 10% middle class tax cut, and we would love to strengthen and make permanent some of the other tax cuts,” Kudlow told Fox Business Network in an interview. “It’ll probably come out some time in September.”
Administration officials have offered conflicting details on tax cuts over the past year, flip-flopping on the type of package the White House would pursue.
Any proposal would be dead-on-arrival in the Democrat-controlled House during an election year, but it could offer Trump a renewed pitch to middle-class voters ahead of the November election. The 2017 Tax Cuts and Jobs Act faced backlash after independent analyses found the $1.5 trillion package disproportionately benefited corporations and the highest earners.
A spokeswoman for Senator Ron Wyden of Oregon, the top Democrat on the Finance Committee, dismissed another White House tax cut package as “yet another empty promise from a president who puts corporations and rich donors first.”
“At the same time he’s pushing for cuts to Social Security and Medicare, President Trump is admitting that his tax windfall did next to nothing for middle-class families,” the spokesperson said in a statement to Markets Insider.