Kudlow: Trump plans injection of tax cuts to cure coronavirus-ravaged economy
by David M. Drucker
| April 23, 2020 05:56 PM
Chief White House Economic Adviser Larry Kudlow said President Trump is planning another round of tax cuts as part of a comprehensive fiscal blueprint to resuscitate an economy ravaged by the coronavirus.
Kudlow spoke Thursday during a campaign conference call organized by former U.S. Ambassador to Japan Bill Hagerty, a Republican and Trump ally running for Senate in Tennessee. Kudlow credited Trump’s aggressive deregulation agenda and signature $1.5 trillion tax reduction bill, approved in late 2017, for spurring the robust economic growth and job creation that preceded the coronavirus and said that both deregulation and tax cuts would be critical components of Trump’s strategy for a post-pandemic recovery.
“As the rescue phase ends and the reopening occurs, we will move forward with additional tax cuts, regulatory relief, better trade deals for American exporters to help farmers and manufacturers and auto workers and technology people,†Kudlow said, as government figures revealed that another 4.4 million people had filed for unemployment insurance, pushing the ranks of the jobless north of 26 million over the past six weeks.
“These free enterprise policies, which rebuilt and reinvigorated the economy under President Trump — they worked once,†Kudlow said.
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