WASHINGTON — President Trump would introduce a middle-class tax cut and continue deregulation if he won a second term, White House chief economic adviser Larry Kudlow said Friday, promising a return to prosperity.
Kudlow touted Trump’s economic record in an interview with Axios, saying Trump had delivered an economic boom for the middle and working class before the coronavirus pandemic arrived on US shores earlier this year.
“His policies, the tax cuts and the deregulation especially, the people who benefited were those that needed it the most. Those are facts,” he said.
“It was the middle class and the lower rungs of the income ladder who had the biggest gains under President Trump. It was not just for rich people,” he went on.
US unemployment fell to 7.9 percent last month from a record high of 14.7 percent in April amid coronavirus lockdowns.
But that’s still a lot higher than the pre-pandemic 3.8 percent low.
Kudlow on Friday vowed that the nation was on the “road to long-term prosperity.”
“I think we can pick up on that once we get through this difficult period,” he told the outlet.
“We are now working on a middle-class tax cut. We are working on some additional business tax cuts,” he went on.
United States’ GDP boomed 33 percent in the third quarter of 2020, exceeding expectations and creating a new record, the Commerce Department reported Thursday.
Trump celebrated the figures in a Friday morning tweet, writing: “IF I AM ELECTED, NEXT YEAR WILL BE OUR BEST EVER!”
