Trump Administration Hints at New Tax Cuts Ahead of 2020 Election

The White House is promising a new tax-cut package before the 2020 election, but critics argue it's just a political ploy.

Both Treasury Secretary Steven Mnuchin and chief economic adviser Larry Kudlow insist tax cuts 2.0 is on the way, possibly expanding the popular cuts passed during President Donald Trump's first year in office.

“There's an expiration on those tax cuts,” says Matthew Langston at Big Dog Strategies. “There is thousands of other ways that they can come to the table for additional cuts or simplify the tax code.”

The Trump administration is said to be considering lower individual tax rates, lower capital gains rates, changes for businesses other than corporations and relief for residents of high-tax states.

But Langston says that all depends on who controls the U.S. House.

“Everything is a talking point at this stage,” he says. “If they see a chance at getting more cuts, more limited government, I think they're going to take it.”

 

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