President Donald Trump’s economic advisers have reportedly been looking at the possibility of cutting tax rates for middle-income earners to 15 percent, the Washington Post reported Tuesday.
The story — which casts the reported tax discussions as an effort to counter criticism of Republicans’ 2017 tax cut as a giveaway to the wealthy — cites “multiple people involved” in the matter and says the effort is being led by White House National Economic Council Director Larry Kudlow.
Other ideas that have reportedly been discussed are a payroll tax cut, a change to capital gains taxes, or making savings tax-exempt, and reducing the overall number of tax brackets.
Kudlow reportedly declined to comment to the newspaper about the specifics of what the administration is considering but was asked about the reported rate cut on CNBC shortly after the story was published.
“The president has asked me to pursue something called ‘tax cuts 2.0,’” Kudlow told the outlet. – READ MORE