Tags: 2020 Elections | stimulus | taxes | kudlow | economy

Fox Business: WH Producing Election Year Stimulus Plan

White House National Economic Council Director Larry Kudlow
White House National Economic Council Director Larry Kudlow (Evan Vucci/AP)

By    |   Friday, 17 January 2020 08:20 AM

The White House is rushing to produce an extensive financial stimulus plan that would contrast with Democrat candidates who are calling for programs that would increase the size of government and slam the middle class with tax hikes, according to congressional sources. 

White House National Economic Council Director Larry Kudlow is reportedly leading the effort, according to Fox Business' sources, who say Kudlow and his team have been consulting with Congress members about several measures, including increasing earned income tax credits and cutting corporate and individual tax rates. 

Kudlow confirmed in interviews on both Fox Business and CNBC that a "tax cuts 2.0" plan is underway, but did not specify dates or what all would be included in the plan.

Fox Business' sources also said the proposal may be included in the White House's budget in February, although getting a tax-cut plan through Congress may be difficult.  

“The president directed me to produce what we’re calling tax cuts 2.0,” Kudlow said told Fox Business. “It will be published sometime during the campaign, as a message for future Trump economic growth policies, particular emphasis on the middle class, in his second term. We are looking at a variety of tax cuts, sometimes making permanent some existing tax cuts, some existing corporate tax cuts.”

Kudlow told CNBC the plans are underway in hopes that Republican lawmakers will control Congress after the 2020 election, explaining that "we're many months away."

The plan is expected to be released later this summer, Kudlow said, explaining that Rep. Kevin Brady, R-Texas, the top Republican on the House Ways and Means Committee who helped pass tax cuts in 2017, is working on the project. 

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The White House is rushing to produce an extensive financial stimulus plan that would contrast with Democrat candidates who are calling for programs that would increase the size of government and slam the middle class with tax hikes, according to congressional sources. 
stimulus, taxes, kudlow, economy
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2020-20-17
Friday, 17 January 2020 08:20 AM
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