'We're always looking at the capital gains tax, payroll tax,' Pres. Trump says, as his administration pushes back against fears of a potential recession.
Even as President Donald Trump insists the U.S. economy is “the best in the world,” he is also weighing pursuing another round of tax cuts amid concerns about a possible looming recession.
The possibility was discussed during a White House policy meeting on Monday. The idea of a payroll tax cut has also been floated in recent days, though officials say that idea has been tabled and is not under active consideration. Publicly, the president continues to strike an optimistic tone about the strength of the U.S. economy and has sent his top economic aides on television to further amplify the White House message.
To the extent Trump does acknowledge weakness in the economy, he points blame at the broader global landscape and at Federal Reserve Chairman Jerome Powell, whom he hand-picked for the job but has since fallen out of favor with Trump, who believes the Fed should further lower interest rates.
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