The White House studies a tax cut to avoid a possible recession despite Trump's economic optimism
The White House is studying a lowering of taxes and tariffs to avoid the recession of the US economy, several US media report, despite the
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The White House is studying a lowering of taxes and tariffs to avoid the recession of the US economy, several US media report, despite Donald Trump's insistence on the good health of the US economy.
According to The Washington Post , the Trump administration is studying several measures to stimulate the US economy, including a temporary decline in wage taxes to stimulate the purchasing power of workers. According to The New York Times , the White House could also waive the new tariffs imposed by the Trump administration on Chinese imports in the context of the trade war with Beijing.
These measures are currently under study and the officials who handle these ideas have not yet asked Trump for an opinion, which in case of accepting them would still need the approval of Congress, the two media clarify. "Reducing wage taxes is not something that is being studied at the moment," the White House has responded to The Washington Post .
The wage tax was temporarily reduced in 2011 and 2012 under President Barack Obama's mandate to try to get the US economy out of the stalemate after the 2008 financial crisis.
According to a survey published on Sunday by the National Association of Business Economists (NABE) , almost three quarters of US economists expect a recession by 2021. An opinion Trump doesn't share: "I don't think there will be a recession, we It's going terribly well, "the president told reporters on Sunday.
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