Trump injects tax-cut talk in the closing weeks of midterm campaign

Adjust Comment Print

Advisers have discussed the idea of having Congress vote on a symbolic "resolution" for a future 10 percent tax cut for the middle class, people familiar with discussions said, part of their scramble to meet Trump's demand for rapid action to blunt Democrats' economic messaging ahead of the midterm elections. The new bill would make permanent the individual and small-business tax cuts in the law.

Some Republican lawmakers hope to pass a budget resolution during the session - enabling legislation to be passed by a simple majority in the House and Senate, as happened with the tax legislation a year ago.

"A millionaire gets the same size tax cut", said Kyle Pomerleau, an economist at the conservative Tax Foundation.

In the meantime, lawmakers are back home and on the campaign trail.

And second, Congress is in recess until the middle of November. That's why our job numbers you hear all of the time when I speak, we have the best numbers, literally, we've ever had, ' he said.

"Republicans are realizing they have to do more to help the middle class".

The Texas Republican's statement comes after Trump, during a Houston rally Monday night to boost Sen.

But the rich did benefit from the tax overhaul Congress passed last December. And not by accident.

Australia lost Test series to Pakistan
Australia will now face Pakistan for a three-match T20I series, starting October 24 at the Sheikh Zayed Stadium in Abu Dhabi. It was Australia's heaviest defeat against Pakistan , beating the 356-run hammering at this same venue four years ago.

Chelsea injuries, suspensions, line up, and prediction vs Man Utd
He has played 310 times for the club, netting 97 goals in the process, while winning two Premier League titles and an FA Cup. The supporters will unveil the banner saying "Eden Hazard, we want you to stay".

Migrants halted after storming Guatemala-Mexico border
It said Mujica attacked immigration agents, as well as local and federal police, after he was asked for his identification. The caravan arrived at the border in southern Mexico on Thursday but turned around Friday, the Associated Press reported .

It's still unclear how Trump will propose to reduce the tax burden on middle-class Americans, but one of the most straightforward ways would be to lower rates by 10 percent for single filers making up to $82,500.

The effort could include expanding the earned income tax credit, increasing the child tax credit or reducing taxes on Social Security benefits for retired workers. They also claimed a series of corporate bonus announcements in January showed the law was already working.

About 44 percent of households paid no federal income tax in 2016, but about 60 percent of those have members who work and will be subject to payroll taxes, according to estimates from the Tax Policy Center.

With the new proposal, Trump seems to be admitting that the tax law hasn't been as helpful to Republican candidates as some had hoped.

While speaking at a rally on Monday, President Trump stated that a 10% tax cut for middle-income families will be "put in next week".

The new tax law they passed in 2017 did not contain such offsets, and nonpartisan analyses project it will add more than $1 trillion to the deficit over the next decade. Ted Cruz's re-election campaign, called out Brady saying the tax-writing chairman had been working with him on the 10 percent middle-income tax cut for a few months and that they'd be "putting it in" next week.

If Trump is serious about adding a tax cut bill to the lame-duck agenda, he's only competing with himself as the main issue expected to be debated after the midterms is funding for his border wall. Political pundits say that the Democrats might gain control of the House. When asked if he would be signing an executive order for the new tax cuts, he said, "I'm going through Congress".

No one in Congress or the White House seemed to know what Trump was talking about.

Comments