White House eyes middle-class tax cut proposal ahead of 2020 elections
(Worthy News) – As the economy cools less than a year ahead of President Donald Trump’s re-election bid, White House advisers are narrowing in on a tax cut proposal that could shore up support from the middle class.
The Washington Post reported Tuesday that a 15% tax rate for middle earners could be included in such a proposal, according to unnamed sources involved in the deliberations. Asked to confirm that report, a White House spokesperson told Business Insider the administration is “studying numerous proposals that will benefit the middle class.”
Another round of tax cuts would face an uncertain path in Congress but could serve as a key campaign message for the president. The Tax Cuts and Jobs Act passed in 2017 was met with sharp backlash because it heavily benefited corporations and was expected to add trillions to the federal deficit. [ Source: Business Insider (Read More…) ]
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