Trump Teases Another Tax Cut – By Yuval Rosenberg (The Fiscal Times) / Aug 11 2020
President Trump said Monday he’s looking “very seriously” at some new tax cuts.
“We’re looking at also considering a capital gains tax cut, which would create a lot more jobs,” Trump told reporters at a White House briefing Monday. “So we’re looking very seriously at a capital gains tax cut and also at an income tax cut for middle-income families. We’re looking at expanding the tax cuts that we’ve already done, but specifically for middle-income families, and you’ll be hearing about that in the upcoming few weeks, and I think it’ll be very exciting.”
Trump has repeatedly teased middle-class tax cuts. Last September he said he would announce a “very substantial tax cut for middle income folks” in the next year.
The capital gains tax cut is an idea that has been pushed by some of his advisers but that Trump rejected last September, when a spokesperson said the president did not feel enough of the benefits would go to the middle class. Trump himself said a capital gains tax cut is “perceived as somewhat elitist.”
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