White House Signaling Push for Another Tax Cut

The White House seems to be signaling that a new push for another round of tax cuts will be coming soon.

According to Town Hall:

In recent months, White House Senior Economic Advisor and Director of the National Economic Council Larry Kudlow has said President Trump is interested in allowing workers to keep more of their hard earned paychecks and has been meeting with Republicans on Capitol Hill about how to get something done.

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“We will gather together the best ideas from the Hill, the administration and outside folks to provide a significant new round of middle class tax relief,” Kudlow told reporters in September.

Now, it looks like a new tax cut proposal could be coming soon.

“It is time for Trump, in my opinion, to call for a second tax cut in his second term,” Heritage Foundation Senior Fellow Steve Moore said during an interview with Fox and Friends Monday morning. “One of the central features of that would be a universal savings account. So, people with incomes say up to $150,000 would be able to save up to $10,000 per year…without having to pay tax on that money. What I think is very attractive to that is we know American middle class people aren’t saving enough. Lets give them a little bit incentive to do that and put more money into their retirement accounts and be prepared for economic uncertainty.”

In the new proposal, the tax rate for the middle class will be lowered from 22 percent to just 15 percent.

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buster peeples
buster peeples
1 year ago

when can us seniors expect a raise in our ss?

LOUIS SABAYRAC JR
1 year ago

Great Forward thinking idea that can make a ‘REAL” difference. Enable it to go into Accounts like a life insurance policy with a minimum guaranteed return with a higher return possible. Have a provision for it to be borrowed against in case of medical or disaster emergency. Also have an option to use it for Long Term Care,after 10 years as an example before 65 and anytime after 65.
Borrowing for disaster or health emergencies and after 65 should have NO tax penalties as a consequence.

Lea
Lea
1 year ago

I agree with the Middle Class Tax Cut. I know right now that it will definitely stimulate our economy even more, especially with Christmas right around the corner.
We agree with the White House that the middle class should have another opportunity to see our Great President in action. “PROMISE’S MADE, PROMISES KEPT”!

Glenn Lego
Glenn Lego
1 year ago

No doubt the Democrats will endeavor to keep it from happening.

John
John
1 year ago

But, but, how will we be able to give all the free stuff to democrat voters ? How are we going to pay for all the Federal employees Christmas parties ? How are we going to keep Planned Parenthood in business ? You mean to let all those ignorant Trump voters keep the money they earned , or even , horrors, donate to Republicans ? How are we going to support all of Adam Dipshiff’s committee investigations ?
Heh , Heh, Heh……..

Sam
Sam
1 year ago

If YOU want to fund these things out of YOUR OWN pocket, you’re certainly welcome to do so! Just keep those dimwits’ money-grubbing fingers OUT of MY pocket. (A message no demon-rat has ever understood.)

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