NEC Director Says New Tax Cuts Will Likely Roll Out By September

The transcript discusses the U.S. administration's plan for 'Tax Cuts 2.0', which includes a 10% tax cut for middle-income Americans. Larry Kudlow, National Economic Council Director, mentioned that the package is expected to be released in September, following a meeting with President Trump. The idea of a second phase of tax cuts was initially introduced by Trump after the 2017 tax cuts and JOBS Act, but details have been sparse. In 2018, Trump suggested a new tax package would be revealed before the midterm elections, but later retracted, citing insufficient time for Congress to vote, postponing it until after the elections.

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