Trump: ‘We’re looking at putting in a major tax cut for middle-income people … just prior to November’

Middle-class Americans may be in store for another sweeping tax cut as early as next week or the week after, assuming President Donald Trump has his information correct.

Speaking with reporters following a rally Saturday in Elko, Nevada, the president announced that he and congressional Republicans have been working on a “major tax cut for middle income people” that he hopes to see passed before the upcoming midterms.

“We’re looking at putting in a major tax cut for middle-income people,” he said. “And if we do that, it will be sometime just prior I would say to November. A major tax cut. We are going to be putting in and are studying deeply now around the clock a major tax cut for middle-income people.”

He added that whereas the Tax Cuts and Jobs Act of 2017 he signed last year cut taxes for both businesses and middle-class Americans, the current plan focuses strictly on “middle-income people.”

“Kevin Brady’s working on it. Paul Ryan is working. We’re all working on it. And we’re looking at a major tax cut for middle-income people who need it,” he concluded.

Listen:

While this isn’t the first time the president has promised more tax cuts, only 10 days remain until the end of the month and an additional six days afterward til the midterm elections. This leaves the deeply divided Congress with the nearly impossible task of moving tax cut legislation through both the House and Senate in just two weeks, which seems highly unlikely.

Adding to the confusion over the Trump’s announcement is that Congress is currently out of session until Nov. 13 so as to allow both congressional Republicans and Democrats to campaign ahead of what is expected to be a highly competitive election.

Given the timing concerns, it’s more likely Congress may simply introduce new tax cut legislation before the midterms. One unnamed official “familiar with the discussions” did confirm to The Washington Post that the president has been pressing congressional Republicans to do exactly.

Rob Damschen, a spokesman for House Ways and Means Committee chairman Kevin Brady, reportedly added that there’s “continued interest” in Congress for further “improving the tax code for hard-working families and America’s small businesses.”

This shared interest between the White House and congressional Republicans in cutting taxes run counter to plans by the Democrats, who intend to spike taxes on all Americans if they regain control of the House and Senate. It’s a point the president frequently notes on Twitter:

Democrats like Rep. Maxine Waters have repeatedly referred to the president’s 2017 tax cuts as a “scam,” despite evidence showing the drastic reduction in rates spurred increased wages and soaring business optimism. Instead she attributes these gains to former President Barack Obama but claims that if and when the economy collapses, it’ll be because of Trump, of course.

“Of course, the economy has improved, and of course he would like to take credit for all of that,” she said over the summer. “But in the final analysis … a combination of the tax scam and the tariffs will undermine all that has been done in the economy that was started by Obama.”

Listen:

Over on social media, while Twitter expressed confusion over the timing aspects related to the president’s latest announcement, the consensus regarding more potential tax cuts was one of enthusiasm and gratefulness.

Look:

Comments

Latest Articles