Washington, Feb 29 (SocialNews.XYZ) US President Donald Trump will engage in further tax cuts if he gets re-elected in the November election, while building on the Tax Cuts and Jobs Act of 2017, said Acting White House Chief of Staff Mick Mulvaney.
"We need to do the second part of the tax bill. We really do," Xinhua news agency quoted Mulvaney as saying at the annual Conservative Political Action Conference on Friday.
Mulvaney said Trump plans to slash the corporate tax rate from 21 per cent set in the 2017 law to 20 per cent.
The official also said the White House is inclined toward eternalizing the parts of the 2017 law that have expiration dates.
Most of the tax cuts for individuals expire after 2025.
The Trump administration has reportedly been mulling for months a new tax cut proposal, one that he could campaign on in the upcoming presidential election.
Source: IANS
About Gopi
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz