Larry Kudlow says Trump is weighing another tax cut
President Trump is considering another round of tax cuts for middle-class Americans, according to Larry Kudlow, his chief economic adviser.
“We’re kicking it around,” Kudlow told reporters on Thursday. “Looking at a couple of very interesting things that may wind up surprising voters.”
Kudlow declined to offer additional details, but hinted that another tax cut was a possibility.
“I’m just saying we’re kicking it around, seeing how it feels,” he said. “That’s all I want to say.”
Last December, Trump signed into law the 2017 Tax Cuts and Jobs Act, which temporarily slashed individual taxes, while also permanently reducing the corporate tax rate to 21 percent from 35 percent.
It’s 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.
When asked about the future of tax cuts during a press conference in November, Trump said it depended on whether Democrats would choose to cooperate.
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It's unclear what type of tax cut the president might propose. Republicans previously wanted to make some of the temporary reductions in the 2017 overhaul -- like lowering individual taxes -- permanent.