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WASHINGTON (Reuters) – US President Donald Trump said Tuesday that his government is planning to cut taxes, but none of this will happen at the moment.
Trump said that he was still trying to reduce the tax on wages and that many wanted it. The Washington Post announced that the administration was considering temporarily reducing payroll taxes in order to revive the US economy, which recently shows signs of slowing down in the near future.
"We are very far from the recession," Trump told reporters during the visit to the White House of Romanian President Klaus Iohanis.
He said that the United States was doing well economically, but "in fact, someone has had to deal with China, and it does not matter whether it is good or bad in the short term".
Trump recently praised the economy and downplayed fears of recession. Economic performance will play a key role in improving its re-election prospects in 2020, but trade tensions with China are fueling concerns about an impending slowdown.
Millions of American workers pay payroll taxes to finance the Medicare health care program for seniors and a social security program that provides pensions for retirees.
(Reuters)
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