Donald Trump eyeing 10% tax cut for middle class


President Donald Trump's surprise call to cut middle-income families' taxes by 10 percent could mean top earners get a break, too.

"They are just sensitive to the Democratic attack that the rich benefited from the first tax cut" more than the middle class, said Stephen Moore, who was an economic adviser to Trump during the 2016 campaign.

POTUS: "No, no, I'm going through Congress".

Trump's move in this regard is seen as an effort to woo the voters ahead of the important mid-term elections. Whatever form his 10 percent plan takes, it's tacit acknowledgement that the 2017 tax overhaul isn't proving as popular as Republicans had hoped - and isn't the boon for middle-class families that was promised. "We're doing it now".

At this point, it was probably getting hard for most reporters and economists not to slam their heads into the nearest blunt surface and bellow that Congress won't be in session next week and unless the president is hedging his bill on Republican ghosts, there won't be anybody to vote on the bill. He initially said a measure would be unveiled before November 1, revised that to after the election and then reversed the time back to next week.

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White House National Economic Council Director Larry Kudlow said Trump's new idea is "in the planning stage" and shows how the president is always pushing for taxes to be lowered.

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

"We will continue to work with the White House and Treasury over the coming weeks to develop an additional 10 percent tax cut focused specifically on middle-class families and workers, to be advanced as Republicans retain the House and Senate", his statement said. "It's going to be put in next week".

Some Republican lawmakers hope to pass a budget resolution during the session - enabling legislation to be passed by a simple majority in the House and Senate, as happened with the tax legislation previous year. When asked if he would be signing an executive order for the new tax cuts, he said, "I'm going through Congress".

Many blame Trump, saying he failed to use his power to set the public agenda to focus voters' attention on the law, instead allowing a parade of controversies - on everything from immigration to tariffs to Vladimir Putin - to push the tax cuts off the front pages.

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Still, Steve Rosenthal, a senior fellow at the Urban-Brookings Tax Policy Center, said reducing rates is a more effective way to lower taxes than to create new programs, which is more complicated.

President Donald Trump has been in office for over a year and a half, but he still seems to have a very loose grasp on the basic concepts of the US government.

FOX Business has a request in to the White House for more details.

Reducing the tax burden by 10 percent for those earning less than $75,000 a year would cost the federal government about $410 billion over a decade, according to an analysis of estimates from the nonpartisan Joint Committee on Taxation.

Republicans said workers would eventually benefit from corporate tax changes that spur capital investment and increase productivity over a period of years.

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That law was a tax cut on individuals and corporations.