White House Economic Council Director Larry Kudlow on Thursday said President Trump may release new tax cut proposals during his 2020 presidential campaign.
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“You might even see tax cuts 2.0, which would drive additional tax relief and create additional tax incentives for middle class folks, for blue collar workers for small businesses…you might see that during the campaign,” he told FOX Business’ David Asman on “Bulls & Bears.”
On Wednesday, President Trump told reporters outside the White House that he may not pursue additional tax cuts because of the “strong economy.”
“I’m not looking at a tax cut now,” Trump said. “We don’t need it. We have a strong economy.”
Kudlow clarified saying the president didn’t actually take tax cuts 2.0 off the table.
“What he was referring to was something immediate or urgent or you know, anti-recession, we just don’t buy that scenario,” he said.
Kudlow explained that additional tax cuts will help the economy.
“We’re looking at what I sometimes call tax cuts 2.0 to improve the long-term growth of the economy.”