President Donald Trump wants new tax cuts by September, economic adviser Larry Kudlow said.
The package could center around 10 percent tax cuts for the middle class, Kudlow, the national economic director, said during an appearance on Fox Business “Maria Bartiromos Wall Street ” late Thursday. The administration also wants to make other tax cuts permanent.
Kudlow said administration officials will probably use Office of Management and Budget Director Russell Voughts $1.4 trillion budget request to craft the new package, dubbed “tax cuts 2.0.”
The package containing the fresh round of cuts will come out sometime in September, according to Kudlow.
In a recent meeting, the director recounted, Trump looked at him and said, “Lets get it out by September.”
Trump has said multiple times that he wants another round of tax cuts passed sometime in 2020. In Baltimore last September, he told House Republicans that officials were working on a tax cut for “middle-income” people.
“Well be announcing it some time in the next year, but itll be a very, very substantial tax cut for middle-income folks who work so hard,” he said.
Two months later, Trump spoke again of the planned tax cut but said it was dependent on the GOP winning back the House of Representatives, which is currently controlled by Democrats.
Kudlow said that same week during an appearance on CNBC that that tax cuts would be “strategic,” “pro-growth,” and aimed at getting middle-income Americans “the lowest possible rates.”