Trump's new pledge to cut taxes may follow a familiar path
Ten months before President Trump began making promises of a 10 percent tax cut for the middle class, he signed a sweeping bill that included a 10 percent tax cut for the middle class.
That cut was included in a $1.5 trillion package that immediately became Mr. Trump’s signature piece of legislation on economic policy. But middle-class Americans say they have not felt much of an effect, in part because three-quarters of the tax cuts went to corporations and high-income earners.
As a result, middle-class Americans have not rallied around the Trump tax cuts in the way the president and congressional Republicans had hoped. So Mr. Trump found another way to get the tax cuts back in the news before the midterm elections in November by pledging to deliver another round very soon.
Mr. Trump began talking about this next tax cut last weekend, telling supporters that he was preparing another middle-class cut, on top of the ones already in place, and that Congress would pass it imminently. Congress will do no such thing; it is not in session until after the elections, and no one on Capitol Hill expects a tax cut of any kind to pass in the lame-duck session at the end of the year.
https://www.msn.com/en-us/money/markets/trumps-new-pledge-to-cut-taxes-may-follow-a-familiar-path/ar-BBOR1sH?li=BBnb7Kz
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