Finance

Kudlow doesn’t expect Trump to release detailed economic plan before election

Aaron Schwartz

White House economic adviser Larry Kudlow suggested on Monday that the Trump administration would not be releasing a detailed second-term economic plan before the Nov. 3 election.

In an interview with Fox News, Kudlow said that the administration is “deep into discussions” about potential second-term plans for taxes and regulations, and that he’s also spoken to U.S. Trade Representative Robert Lighthizer about possible future plans for trade.

But Kudlow also said he doesn’t “see any reason why we have to put out a detailed plan.”

Kudlow’s comments on Monday are contrary to comments he’s made previously. In January, Kudlow said that he expected Trump to roll out a new tax proposal as part of his reelection campaign.

Trump has spoken generally about wanting to cut taxes for the middle class if reelected, but has not provided specifics. Kudlow said that Trump also wants to retain and cement business tax cuts included in his 2017 tax law, and provide tax credits to encourage companies to come to the United States.

Democratic presidential nominee Joe Biden has offered more details about his future tax plans than Trump has. Biden has released a number of proposals aimed at raising taxes on high-income individuals and businesses, such as rolling back Trump’s tax cuts for individuals making more than $400,000 and raising the corporate tax rate from 21 percent to 28 percent. He’s also released proposals aimed at providing tax relief to lower- and middle-income families, including a temporary expansion of the child tax credit.

Kudlow argued that Democrats’ agenda would lead to economic stagnation, while Trump has an “optimistic, pro-growth, prosperity message.”

Tags 2020 election economy Joe Biden Larry Kudlow Robert Lighthizer Tax plan

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