FILE PHOTO: U.S. Director of the Economic Council Larry Kudlow speaks during the Wall Street Journal CEO Council, in Washington, U.S., December 10, 2019. REUTERS/Al Drago

National Economic Council Director Larry Kudlow says the White House will release another tax cut plan in the middle of the 2020 election this year, likely in the summer.
President Trump’s top legislative achievement remains the 2017 Tax Cuts and Jobs Act, which slashed tax rates for corporations permanently while providing temporary relief for individuals.
Since late last year, the Trump administration has weighed another round of tax cuts to help bolster the president’s re-election odds and campaign that a second term would provide a boost to the middle class.
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The Trump administration will roll out another round of tax cuts during the 2020 campaign, the president’s top economic advisor Larry Kudlow said in a CNBC interview on Wednesday.

Kudlow, the National Economic Council Director, said he’s been spearheading the planning so far.

“I am still running a process of Tax Cuts 2.0,” Kudlow said. “We’re many months away – it’ll come out something later during the campaign.”

He added: “Tax Cuts 2.0 to help middle-class economic growth. That’s still our goal.”

Kudlow also said the cuts would be unveiled “perhaps sometime later this summer.”

It would mark an addition to the 2017 Tax Cuts and Jobs Act, which remains …read more

Source:: Businessinsider – Politics


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