Trump Says He Is Working On “Phase 2” Of Tax Plan

Trump Says He Is Working On "Phase 2" Of Tax Plan

Fox Business host Maria Bartiromo has another interview with President Trump dropping on Sunday – but in a tweet sent Friday afternoon, she revealed that the president told her he’s working on “Phase 2” of his tax-cut plan.

“Phase Two” – which Trump first hinted at shortly after passing “Phase One” back in December – will include another cut to the corporate rate, bringing it down to the 20%-21% area, according to the president.

Trump added that the second tax overhaul will “probably be in October, maybe a little sooner” – meaning that Republicans will try to push it through before the midterms.

Trump also said he won’t ask his nominees beforehand how they might vote on overturning Roe v. Wade. “They’re all saying don’t do that…but I’m putting conservative people on.” He added that he’s proud of his pick of Neil Gorsuch, and he’ll be “putting someone like that on.”

The president has previously hinted that he could try to make tax cuts for individuals permanent as part of his follow-up tax plan (they’re presently expected to expire in 2025). Of course, there’s one major problem to making these changes permanent: And that is an additional $500 billion added to the deficit in perpetuity.
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Author: HEDGE

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