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Trump says he will unveil 'middle-income' tax plan in 2020

Published 09/12/2019, 08:35 PM
Updated 09/12/2019, 08:35 PM
© Reuters. U.S. President Trump speaks at a House Republican retreat in Baltimore, Maryland, U.S.

BALTIMORE, Md (Reuters) - U.S. President Donald Trump said on Thursday his administration would unveil a tax overhaul plan aimed at middle-income households next year, amid the 2020 presidential election.

"We'll be announcing it sometime in the next year. But it'll be very, very substantial tax cut for middle-income folks who work so hard. And we'll look forward to that. We're going to work on it altogether," Trump told Republican lawmakers, without providing any additional details.

© Reuters. U.S. President Trump speaks at a House Republican retreat in Baltimore, Maryland, U.S.

Trump has said his administration was considering potential tax cuts, seeking to play down market anxieties over a possible recession. At the end of 2017, Trump passed a tax overhaul passed by the Republican-led Congress.

Latest comments

This is what lifelong fiscal liberals (Trump) do. They cut the rate but eliminate the deductions so your taxes go up while your rate goes down.
First he taxed all via massive Tariffs, then he distribute few candies to cheer up the gullible Americans.What a class politician, Mr Trump!
Big election ploy for the middle class voters.
y'all, right... free medical... and ban fossil fuel will reduce the country debt
LOL. right. we are now 4 trillion dollars more in debt . thanks to this worthless buffoon
So basically nothing during 3 years and just before the elections : middle class tax plan. Vote for me dreamers
Yes, now that there's a 1 trillion shortfall each year, going to have to tighten the belt middle class Americans - so a tax cut that costs you about 10% more will be in order - love the new math! Don't be haters because any new cuts will have to benefit the 1% and someone is going to have to pick up the slack that means you the other  9%!!! Remember they got the one that benefited the 1% thru in the first year - he never planned to help the 99%! Succckerrrrrrsssssssss
I thought your tax cut was already for the middle class. Wait a minute I'm in the middle class I'm so confused. I didn't get any benefit at all and I work my pole off for about a hundred thousand a year. again I am so confused I thought it was already for the middle class. Oh I guess it was just for the wealthy like everyone said.
Such a small cut but its spread amongst a lot of people
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