“I gave you the greatest reduction in the history of our country, greater even than [President] Ronald Reagan’s reduction many years ago,” he told the crowd in Monroe, Louisiana.
The Tax Cuts and Jobs Act was signed into law by Trump in 2017 and is one of the most significant overhauls of the U.S. tax code in decades. It lowered both income tax rates and the corporate tax rate, while adjusting many other provisions of the tax code.
Given that the economy is such an important factor for middle class voters, Trump went on to question how Democrats expected to win an election by telling the American people they are in for a tax increase.
“The Democrats have this crazy theory, I mean I don’t know how it works … one of their theories, we’re going to raise your taxes. How does that work?” Trump asked the crowd in Monroe, Louisiana. “They’re saying, ‘we’re going to raise your taxes,’ and I’m saying ‘excuse me, does that work?’”
The president added that he is working on cutting taxes further, likely referring to the Tax Cuts 2.0 package, which is expected to be detailed next year. Once again, the White House is targeting middle-class tax relief via a “substantial tax cut.
"It will be a very, very substantial tax cut for middle-income folks, who work so hard," the president said in September.
Meanwhile, Democrats have said taxes will rise to pay for a number of pricey proposals, like student debt forgiveness, free public college tuition and Medicare for All. Most candidates – including frontrunners Elizabeth Warren and Bernie Sanders – however, have positioned those tax increase (like wealth taxes) as levies that will only affect only the wealthiest Americans.