WH adviser Kudlow: Trump administration may propose 10% middle-class tax cut

Eren Sengezer FXStreet

The Trump administration may propose a 10% middle-class tax cut when they reveal the next tax plan in September, White House economic adviser Larry Kudlow told Fox Business Network on Friday.

"We’d love to have a 10% middle-class tax cut, and we would love to strengthen and make permanent some of the other tax cuts," Kudlow said, as reported by Reuters.

Market reaction

These comments seem to be helping Wall Street's main indexes edge modestly higher in the session. As of writing, the S&P 500 was up 0.15% on the day and the Nasdaq Composite was adding 0.27%.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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