Kudlow: Trump ‘absolutely committed’ to tax cuts
Conservative economic analyst Larry Kudlow on Sunday expressed optimism in a tax cut plan from President Trump, saying the president is “absolutely committed” to the plan.
“I think the president is absolutely determined and committed to get this done. I was in with him a few weeks ago, and I saw it is different than health care, John. He is absolutely committed and determined to get it done,” Kudlow told John Catsimatidis on AM 970 in New York.
The comments from Kudlow, a former Trump campaign economic adviser, come after the president presented a broad plan for overhauling the tax code to a crowd in Missouri on Tuesday.
Trump outlined four principles he would like to see in a rewrite of the tax code: offering a more simplified tax code, establishing one that is globally competitive, providing tax relief for middle-class families and bringing back trillions of dollars held overseas.
Trump pitched his plan by arguing that it would encourage domestic manufacturing, create U.S. jobs and lower the tax burden on businesses and employees.
The president is trying to score his first major legislative victory after more than eight months in office. Trump and Republicans currently have their sights set on tax reform after the party failed to fulfill their seven-year campaign promise to repeal and replace ObamaCare in July.
“The Trump states want tax cuts, and the Democrats, four Democrats are vulnerable — that tells you a lot — and I’m going to say Trump is very committed. Remember, he singled out Claire McCaskill at his speech on Wednesday. Missouri wants Trump tax cuts,” Kudlow said, adding, “She better beware, it’s going to be a tough vote.”
Kudlow was referring to a line of attack Trump took at the Missouri event, in which he told the crowd of the incumbent Democratic senator, “We must lower our taxes and your senator, Claire McCaskill, she must do this for you, and if she doesn’t, you have to vote her out of office.”
The economic analyst also offered his thoughts on who could be the next chair of the Federal Reserve in the wake of current Chairwoman Janet Yellen and White House economic adviser Gary Cohn’s critical comments about Trump.
“Since Yellen seemed to attack Trump about regulation, deregulating, and since Gary Cohn attacked Trump publicly over the Charlottesville mess, those two which were the frontrunners are no longer the frontrunners in this worldwide betting poll,” he said, referencing the Predictive betting market.
Kudlow praised former Fed governor Kevin Warsh, who was slightly ahead of Yellen and Cohn in the betting market.
“He’s a reformer. If he’s chair, he will go into the Fed for example, and have them completely redo their models,” Kudlow said, adding, “He’s a very capable guy.”