President Trump’s “phase two” tax cut plan includes making permanent the lower personal income tax rates and possibly slashing capital gains rates, a White House spokesman said Thursday.
White House deputy press secretary Raj Shah said those were two elements being discussed for a follow-up to the tax cut law that Mr. Trump signed in December.
He said “phase two” was a no brainer after the runway success of the first tax cut law.
“There was so much success — more success than we could have predicted with hundreds of companies announcing bosses announcing wage hikes, all sorts of announcements from the first tax cut bill. Why not do it again,” he said on “Mornings with Maria” on Fox Business Network.
Mr. Trump touted the idea of “phase two” of tax cuts Wednesday while visiting a Boeing fighter jet plant in St. Louis, Missouri. Boeing was one of the first companies to announce major investments in its workforce following the first tax cuts.
The White House hasn’t finalized the details of the plan or set a timeline to get it through Congress, Mr. Shah said.
Passing a second round of tax cuts would be another major battle for the GOP-run Congress.
Mr. Trump and House Ways and Means Committee Chairman Kevin Brady have been working on the “phase two” plan.
• S.A. Miller can be reached at smiller@washingtontimes.com.
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