Trump eyeing a 10 percent middle-income tax cut plan

US President Donald Trump

We could treat this as a mystery, as Politico does, identifying a series of policy proposals that are neither tax cuts nor going through Congress nor necessarily for middle class people, but that someone somewhere in the Trump administration has proposed and that could maybe be cynically marketed as being nearly the same thing as a tax cut.

After Trump announced at a Monday rally for Ted Cruz that "we're going to be putting in a 10 percent tax cut for middle-income families" by "next week", officials in his administration began rushing to figure out a way to get Congress to agree to a more "modest" version of the proposal, the report noted. When asked if he would be signing an executive order for the new tax cuts, he said, "I'm going through Congress".

GOP taxwriters and leaders in both chambers had not been talking about any more tax cuts this year, although they had hoped to pass a technical corrections bill fixing some of the issues in their 2017 tax overhaul.

The House and Senate are out of town and not slated to return before the midterm elections in early November.

The tax cut proposal could be included in a continuing resolution to fund the government on a short-term basis.

No one in Congress or the White House seemed to know what Trump was talking about. He initially said a measure would be unveiled before November 1, revised that to after the election and then reversed the time back to next week. Prospects in the Senate for the legislation were weak.

Late Tuesday afternoon, the chairman of the House's tax writing committee, Rep. Kevin Brady, R-Texas, released a statement with vague language that only committed to working to develop such a tax cut.

The White House could also propose reducing the overall tax burden for middle-class Americans by about 10 percent - a more complicated endeavor that would likely involve boosting credits, and comes with a hefty price tag.

If the White House were to define the middle class as any household earning less than $200,000, a 10 percent tax cut would cut would lower taxes by roughly $61 billion a year, according to Internal Revenue Service data.

Trump first raised the tax cut proposal in the same week the USA government ended the 2018 fiscal year with a $779 billion deficit, as previous Republican-led tax cuts squeezed revenues.

Even if Republicans wanted to pass a new tax bill after the election, it's hard to see how they'd do it.

"He's a tax cutter", Kudlow told Fox News on Tuesday.

"People are exhausted of high taxes, we gave the tax cuts, we've done so much".

And he denied his pitch for a new plan meant the first round of tax cuts passed by Republicans benefited the middle class. Democrats argued it only helped the wealthy. Large chunks of the public still don't understand what was in the legislation, said David Winston, a longtime Republican pollster who advises GOP lawmakers. "They are just poor at selling their own agenda".

Details of the new plan are said to be coming later.

"It's Republicans once again proving the old adage that they are the stupid party", said David McIntosh, head of the Club for Growth.

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