President Trump said at a campaign rally in Nevada Saturday his administration is working on new tax cuts for the middle class and expects to reveal the plan before the midterms.
"We are going to be putting in and are studying very deeply right now, around the clock, a major tax cut for middle-income people," he said. "Not for business at all. For middle-income people." He described the timeline for the new cuts, as promised in May, as "sometime just prior, I would say, to November."
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
Jasveen Sangha and the ketamine 'Wild West' of HollywoodIn The Spotlight Arrest of the 'ketamine queen' accused of supplying Friends star Matthew Perry with deadly dose has turned spotlight on a showbiz drug problem
-
Confessions of a Brain Surgeon: an 'exceptional' documentaryThe Week Recommends Retired neurosurgeon Henry Marsh reflects on his pioneering work with exquisitely 'raw honesty'
-
A new subtype of diabetes was found and it may require different treatmentUnder the radar It is prevalent in Black Africans and Americans
-
Trump said to seek government stake in IntelSpeed Read The president and Intel CEO Lip-Bu Tan reportedly discussed the proposal at a recent meeting
-
US to take 15% cut of AI chip sales to ChinaSpeed Read Nvidia and AMD will pay the Trump administration 15% of their revenue from selling artificial intelligence chips to China
-
NFL gets ESPN stake in deal with DisneySpeed Read The deal gives the NFL a 10% stake in Disney's ESPN sports empire and gives ESPN ownership of NFL Network
-
Samsung to make Tesla chips in $16.5B dealSpeed Read Tesla has signed a deal to get its next-generation chips from Samsung
-
FCC greenlights $8B Paramount-Skydance mergerSpeed Read The Federal Communications Commission will allow Paramount to merge with the Hollywood studio Skydance
-
Tesla reports plummeting profitsSpeed Read The company may soon face more problems with the expiration of federal electric vehicle tax credits
-
Dollar faces historic slump as stocks hit new highSpeed Read While stocks have recovered post-Trump tariffs, the dollar has weakened more than 10% this year
-
Economists fear US inflation data less reliablespeed read The Labor Department is collecting less data for its consumer price index due to staffing shortages
