Politically, The GOP Tax Cut Has Been A Huge Bomb

US President Donald Trump

US President Donald Trump

Trump said, "We're going to be putting in a 10% tax cut for middle-income families".

Ahead of the crucial mid-term polls on November 6, US President Donald Trump has said he will soon come out with another 10 per cent tax cut for the middle class.

The Republican party now has a majority in both the House of Representatives and the Senate.

With the midterm elections in two weeks, polls have shown only tepid support among voters for that package of individual and corporate tax cuts that took effect January 1. Bolstering the EITC, a popular tax break for low-income workers, is one of the most direct ways in the existing code to lower levies for earners at the bottom part of the income ladder, according to tax experts.

The report listed a number of times the president's whims have come to fruition: the Pentagon whirring into action to create a "Space Force"; the Commerce Department's plan for automobile tariffs after Trump threatened the auto industry with them; and Vice President Mike Pence's defense of the president's claim that "unknown Middle Easterners" are among the caravan of migrant Central Americans making their way to the United States border. "This is for the middle". Finally, when a reporter pointed out that Congress isn't in session, Trump said, "We'll do the vote after the election".

"Republicans are realizing they have to do more to help the middle class".

The House of Representatives voted to advance a new tax package in September. The Senate has so far not acted on that legislation.

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Maybe he really is that ignorant or delusional, but the overwhelming odds are that Trump is lying, because he knows his 2017 tax law, the one that was supposed to make everything better for Republicans, is a flop with voters-even many of his own supporters-and he's hoping to trick people, with an assist from the media. However, it should be noted that Congress will not be in session until after the midterm elections. Without returning, they could not hold a vote next week on legislation to cut taxes or on a symbolic "resolution" to cut them in the future.

First of all, the president can't just create a tax cut.

Details of the new plan are said to be coming later.

If Trump is serious about adding a tax cut bill to the lame-duck agenda, he's only competing with himself as the main issue expected to be debated after the midterms is funding for his border wall. "I think the Republicans are going to do very well", he said.

Republican leaders have said their tax cut plan last year has led to economic growth this year, but they also have acknowledged that most Americans remain opposed to the plan, which has made the budget deficit grow this year.

If there are "pay-fors", that could make congressional passage more hard, Mazur said.

Congress temporarily cut the payroll tax by two percentage points under President Barack Obama in 2011 and 2012.

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