Trump seeking tax cuts in fall to boost economy

(Worthy News) –
Getting tax cuts through Congress this fall to boost the economy is a bigger priority than overall tax reform, a top White House official said Monday.

White House legislative affairs director Marc Short said the administration is working with House and Senate leaders to produce a single tax-relief package that lawmakers would take up after Labor Day.

“We believe that the economy needs to get spurred quickly, and we want to make sure there are sufficient tax cuts,” Mr. Short told reporters. “In order to jump-start the economy, we need to cut taxes for both businesses and individuals.”

The president is seeking a cut in the corporate tax rate from about 35 percent to 15 percent, as well as cuts in individual rates. [ Source ]