Connect with us

Popular World News

Trump looking at possible U.S. tax cuts but not now By Reuters

© Reuters. U.S. President Donald Trump answers reporters questions in the Oval office of the White House In Washington

ECONOMIC NEWS

Trump looking at possible U.S. tax cuts but not now By Reuters

[ad_1]

© Reuters. U.S. President Donald Trump answers reporters questions in the Oval office of the White House In Washington

WASHINGTON (Reuters) – President Donald Trump on Tuesday said his administration was looking to cut U.S. taxes, but he was not talking about doing anything at this moment.

Trump added that he was always looking at a payroll tax cut, and that a lot of people would like to see it. The Washington Post has reported the administration is considering a temporary payroll tax cut to boost the U.S. economy, which has recently shown signs of slowing down in the near future.

“We’re very far from a recession,” Trump told reporters during a White House visit by Romanian President Klaus Iohannis.

He added that the United States is doing well on the economy but “the fact is somebody had to take China on.”

Trump has been talking up the economy in recent days and dismissing recession fears. A strong economy is seen as key to his re-election prospects in 2020, but trade tensions with China are stoking concerns about an imminent slowdown.

Millions of U.S. workers pay payroll taxes on their earnings to finance the Medicare health insurance program for the elderly and Social Security, which provides income payments for retirees.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



[ad_2]

Source link

Continue Reading
You may also like...
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

More in ECONOMIC NEWS

To Top
error: Content is protected !!
Top