White House in talks with Republicans to step up tax cuts in 2020
White House National Economic Council Director Larry Kudlow just announced that Donald Trump is planning on stepping up tax cuts as the 2020 election approaches.
Kudlow said that Trump has been pressuring the White House to get together with House Republicans to craft a follow-up to his 2017 tax cuts.
Kudlow told Fox Business that “I don’t have any details, but we would like to see some middle-class tax cuts. It will be announced during the campaign, and let’s just see where it takes us.”
Although no specifics have been decided upon, Kudlow confirmed that discussions are underway with House Ways and Means ranking member Kevin Brady about possible legislation.
Although Democrats have criticized the 2017 tax cuts as a boon only to large corporations, according to a survey commissioned by the Job Creators Network in April, “Of 102 Certified Public Accountants—representing over 5,500 small business pass-through clients across the U.S.— nearly 80 percent of respondents believe that the implementation of the tax cuts legislation has helped America’s small businesses.”
Additionally, according to Breitbart, in October, “the U.S. economy added 128,000 jobs for the month and the unemployment rate rose to 3.6 percent, higher than the month before but still near a 50-year low. Economists had expected the economy to add 75,000 jobs.”
The Trump economy continues to shatter records and outpace every expectation. Adding further tax cuts aimed at the middle class and small businesses would only serve to continue that growth.