White House mulling tax cut

21 August 2019 | Economics

Washington - The White House is considering cutting taxes or reversing tariffs to head off a recession, US media reported yesterday, despite president Donald Trump's insistence the economy was in rude health.

Senior White House officials are mulling several moves to stimulate the economy including temporarily cutting the payroll tax to increase workers' monthly take-home pay, The Washington Post reported.Also under consideration is reversing new tariffs the Trump administration imposed on Chinese goods, according to The New York Times.

The discussion is still in the early stages, and officials have not brought up the idea with Trump, who would have to seek approval from Congress, the newspapers said.

The White House disputed the reports in a statement to the Post, saying "cutting payroll taxes is not something under consideration at this time." - Nampa/AFP

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