Trump says new tax cut plan to be unveiled in 90 days

President Trump said in a Wall Street Journal interview Tuesday that the White House plans to unveil a new tax-cut proposal in 90 days.

“We’re talking a fairly substantial … middle-class tax cut that’ll be subject to taking back the House and obviously keeping the Senate and keeping the White House,” the president said. Trump declined to provide specifics about the plan.

The White House has been saying for several months that they plan to release a proposal for a middle-class tax cut as Trump runs for reelection. The exact contents of the package are still being discussed.

White House National Economic Council Director Larry Kudlow gave a different timetable than Trump in a CNBC interview last week, saying then that the proposal could be unveiled “perhaps sometime later in the summer.”

A 90-day timetable, as Trump indicated Tuesday, would have the proposal released around the time of the April 15 tax-filing due date.

While a new Trump tax proposal would be highly unlikely to pass the Democratic-controlled House, the proposal could be something that Trump talks about on the campaign trail this year as he touts the economy and his 2017 tax-cut law.

But Democrats think they have the advantage on taxes in 2020, pointing to the fact that polling has not found widespread support for Trump’s 2017 law but has found support for Democratic proposals to raise taxes on the rich.

In October 2018, Trump floated unveiling a middle-class tax cut ahead of the midterm elections the following month, but did not end up doing so.

Tags Donald Trump Larry Kudlow

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