August 22, 2019 / 9:18 PM / 25 days ago

White House mulling tax cuts but not to counter weakness -adviser

WASHINGTON, Aug 22 (Reuters) - The Trump administration is considering a package of tax cuts that could be rolled out before the 2020 U.S. election as a way to buttress the economy’s long-term growth rate, not as a near-term fix to counter economic weakness, a top White House adviser said on Thursday.

National Economic Council Director Larry Kudlow told Fox Business Network that a reduction in payroll taxes - which President Donald Trump said earlier this week was possible - was unlikely, but that personal tax rates could be lowered and tax brackets shrunk. (Reporting by Mohammad Zargham and David Alexander; Writing by Tim Ahmann; Editing by Peter Cooney)

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