On Monday, Trump talked up a new tax cut that will explicitly benefit middle class Americans. The president told reports at the White House, and a crowd of nearly 20,000 at his rally in Houston, that the new tax would be about a 10 percent reduction for middle-income people.
“President Trump said his administration and the Republican Party are working to introduce a ‘major’ 10 percent tax cut for middle-class Americans around the beginning of November,” Fox Business reports.
Trump told reporters at the White House, “We’re putting in a resolution sometime in the next week or week-and a-half, two weeks … we’re giving a middle-income tax reduction of about 10 percent – we’re doing it now – for middle-income people.” This 10 percent will be in addition to the tax breaks middle class America received from the first round of tax cuts passed in 2017.
At the rally in Houston, Trump specifically pointed out Representative Kevin Brady as being a major help to the administration when it comes to tax related legislation. On Tuesday, Brady “confirmed he was working with the administration on the measure,” Fox Business reports.
Trump proposed that he initially wanted to try and squeeze this new round of tax cuts in during early November. However, since Congress is out of session for the next few weeks, legislation will not be proposed or voted on until after the midterms. Thus, proposing the latest round of tax cuts now was likely a strategic move by the administration, providing further incentive for voters with this additional piece of inspiration.
“Trump said that while the previous tax cuts benefited both the middle class and businesses, the next plan would focus solely on helping middle-income Americans,” Fox Business reports. Businesses have undoubtedly thrived following the 2017 corporate tax cuts. However, Trump critics attacked the last round of tax cuts as primarily benefiting the wealthy upper class. This new tax cut, if passed, will likely avoid such criticism.