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

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.

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