Pence confirms tax cuts 2.0 'absolutely' coming, likely this year

The vice president confirmed that a second round of tax cuts is in the works

Vice President Mike Pence confirmed on Friday the Trump administration is working on the second round of tax cuts geared toward middle-class Americans.

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"They're absolutely coming," he told FOX Business' Stuart Varney during an interview. "I expect we'll be talking about that before this election year is out. It's one of the reasons we’re focusing so much attention on getting Donald to trump four more years."

TRUMP'S TAX CUTS 2.0 EXPECTED IN 2020: KUDLOW

WHITE HOUSE ECONOMIST: TAX CUTS 2.0 ARE COMING

The legislation is likely to include new adjustments in the tax brackets, which the 2017 Tax Cuts and Jobs Act reduced, according to previous statements from Larry Kudlow, Trump's chief economic adviser.

In November, during an interview with CNBC, Kudlow said that a 15 percent rate for the middle-class sounded "pretty good."

Kudlow also confirmed that Rep. Kevin Brady, the ranking member on the House Ways and Means Committee, has been attending ongoing meetings with the administration.

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Two years ago, Republicans temporarily slashed individual taxes, while also permanently reducing the corporate tax rate to 21 percent from 35 percent, juicing the economy. Administration officials have previously suggested they're seeking to make the reductions in individual obligations, which are set to sunset in 2025, permanent.

The Tax Cuts and Jobs Act is perhaps the biggest legislative accomplishment of the Trump administration so far. Since then, Republicans have broached the subject of another round of tax cuts, although hopes of its passage were mostly dashed when Democrats won control of the House during the 2018 midterms.

The proposal comes as a crowded field of Democratic presidential candidates unveils sweeping social programs, a number of which would be funded by new levies on both the wealthy and corporations.

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