With the 2020 election a little more than a year away, attention has turned to the economy. There was tumult on Wall St. last week as some investors feared a looming recession. According to the White House, though, the economy is strong and no recession is forthcoming.
With that being said, the Trump Administration is looking into ways to thwart any potential dip in the economy. Today, Deputy White House press secretary, Hogan Gidley, appeared on Fox News and said that the President is potentially looking at new tax cuts.
The New York Times recently reported that the White House may consider a new payroll tax cut. Gidley shot these rumors down during the Fox News appearance. According to the spokesperson, a payroll tax is, “not being considered at this time, but he’s looking at all options out there to try and give people back so much of the hard-earned money they’ve made.”
Gidley continued, “What I can tell you is the same thing Larry Kudlow said and the same thing that the president of the United States has said, that he’s looking at tax cuts again. We think that spurs on this economic expansion.”
The spokesperson then discussed the recent White House talking point that Democrats and the media are hoping for a recession. The media “wanted so many of these lies about the president to be true,” said the White House deputy press secretary. “People have more money, they are spending more money, they are saving more money, and they have more jobs.”