National Economic Council Director, Larry Kudlow, announced that the Trump Administration is preparing for a second round of tax cuts this coming September. According to Kudlow, the plan is to cut taxes for the middle class by 10%.
Many tax cuts from the 2017 tax bill would also become permanent.
America’s economy is accelerating into prosperity because we finally have a president who understands that Americans’ money is best left in their own pockets, rather than the pockets of the government.
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Fox Business had more details:
During a meeting in the Oval Office, he said, President Trump urged Kudlow to "get it out by September," which would be two months before the 2020 election.
"It'll come out sometime in September," Kudlow told FOX Business' Maria Bartiromo.
The administration, he said, will likely use the Office of Management and Budget Director Russell Vought's $1.4 trillion budget request to craft the package and make tax cuts permanent.
And from our friends over at The Western Journal:
Whoever the Democrats nominate for president is going to have a tough time defeating President Donald Trump and his strong economy.
And the road is about to get even tougher for the Dems as the president is preparing for what the administration calls ” Tax Cuts 2.0.”
National Economic Council Director Larry Kudlow told Fox Business Network anchor Maria Bartiromo last week that when he met with the president, he was told to have the “Tax Cuts 2.0” prepared by September, Fox Business News reported Friday.
Kudlow told Bartiromo that the middle class would receive a 10 percent tax cut and some previous cuts would be made permanent with the legislation.
It will likely be a campaign issue that the president uses to fuel his re-election as it is doubtful that the Democrat-controlled House would give him a major victory like that two months before voters go to the polls.
“We’d love to have a 10 percent middle-class tax cut, and we would love to strengthen and make permanent some of the other tax cuts,” Kudlow said, Fox Business News reported.
“In the meeting in the Oval [Office] two days ago, he looked at me and he said ‘let’s get it out by September,'” Kudlow said.
A week before Kudlow made his remarks, Vice President Mike Pence also referenced a new round of tax cuts when he spoke to Fox Business Network host Stuart Varney.
“It’s one of the reasons why we will focus so much attention on making sure not only do we get President Donald Trump four more years in this White House, but we will make sure that we re-elect a Republican Senate and elect a Republican House of Representatives,” he said.
Trump’s opponents on the Democratic side could not have made the contrast any starker as just about all of them have vowed to raise taxes.
During a Democratic presidential primary debate in June, for example, Vermont Sen. Bernie Sanders took the step of admitting he would raise taxes on the middle class if he was elected president.
“Yes, they will pay more in taxes, but less in health care than what they pay now,” the democrat socialist senator said.