WASHINGTON —- President Trump on Tuesday said Republicans would unveil a resolution pledging congressional action sometime after the midterm elections on a 10 percent middle-class tax cut.
The resolution would be a nonbinding measure that offers no guarantees of a future tax cut, and details of the proposal remained vague. But Trump and White House officials say such a promise would have political value coming just ahead of midterm elections in which the original Republican tax law has failed to win public support.
“It’s going to be a tax reduction of 10 percent for the middle class,” Trump told reporters in the Oval Office. “Business will not enter into it.”
Trump disputed the suggestion that he was embracing a new middle-class tax cut because the original Republican tax bill, which became law this year, did not do enough for the middle class.
That legislation lowered individual tax brackets at all levels but did much more to help corporations and wealthy Americans, according to nonpartisan analyses of the legislation. The original tax law is projected to add at least $1 trillion to the deficit over the next decade.
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