AGL 40.30 Increased By ▲ 0.10 (0.25%)
AIRLINK 130.29 Increased By ▲ 1.18 (0.91%)
BOP 6.29 Decreased By ▼ -0.31 (-4.7%)
CNERGY 4.03 No Change ▼ 0.00 (0%)
DCL 8.85 Increased By ▲ 0.40 (4.73%)
DFML 42.74 Increased By ▲ 1.49 (3.61%)
DGKC 87.50 Increased By ▲ 0.50 (0.57%)
FCCL 33.78 Increased By ▲ 0.43 (1.29%)
FFBL 65.96 Increased By ▲ 0.06 (0.09%)
FFL 10.67 Increased By ▲ 0.13 (1.23%)
HUBC 113.85 Increased By ▲ 3.15 (2.85%)
HUMNL 16.09 Increased By ▲ 0.86 (5.65%)
KEL 4.80 Increased By ▲ 0.02 (0.42%)
KOSM 7.98 Increased By ▲ 0.15 (1.92%)
MLCF 42.09 Increased By ▲ 0.19 (0.45%)
NBP 61.10 Increased By ▲ 0.60 (0.99%)
OGDC 184.90 Increased By ▲ 2.10 (1.15%)
PAEL 25.60 Increased By ▲ 0.24 (0.95%)
PIBTL 7.26 Increased By ▲ 1.00 (15.97%)
PPL 146.60 Decreased By ▼ -1.21 (-0.82%)
PRL 24.59 Increased By ▲ 0.03 (0.12%)
PTC 16.48 Increased By ▲ 0.24 (1.48%)
SEARL 70.51 Increased By ▲ 0.01 (0.01%)
TELE 7.36 Increased By ▲ 0.06 (0.82%)
TOMCL 36.16 Decreased By ▼ -0.14 (-0.39%)
TPLP 8.15 Increased By ▲ 0.30 (3.82%)
TREET 16.00 Increased By ▲ 0.70 (4.58%)
TRG 51.40 Decreased By ▼ -0.30 (-0.58%)
UNITY 27.46 Increased By ▲ 0.11 (0.4%)
WTL 1.28 Increased By ▲ 0.05 (4.07%)
BR100 9,896 Increased By 54.4 (0.55%)
BR30 30,314 Increased By 277.4 (0.92%)
KSE100 93,140 Increased By 619.8 (0.67%)
KSE30 28,879 Increased By 92.5 (0.32%)
Print Print 2020-01-24

US Treasury Secretary pledges tax cuts for 'middle class'

US Treasury Secretary Steven Mnuchin on Thursday pledged a new round of tax cuts that he said would benefit ordinary Americans.
Published 24 Jan, 2020 12:00am

US Treasury Secretary Steven Mnuchin on Thursday pledged a new round of tax cuts that he said would benefit ordinary Americans.

President Donald Trump, who faces a tough reelection bid in nine months, raised the possibility of tax cuts earlier this week, saying a proposal could be rolled out within three months.

Any new stimulus would add to 2017's budget-busting $1.5 trillion round of tax cuts, mostly aimed at corporations and the wealthiest taypayers.

"The president has asked us to start working on what we call tax 2.0," Mnuchin said told CNBC from the global economic forum Davos, Switzerland. "They'll be tax cuts for the middle class and also be looking at other incentives to stimulate economic growth." Trump needs a strong economy to boost his chances for a second term in the White House.

Mnuchin said the 2017 tax cuts had not caused runaway budget deficits and rejected claims that they would not pay for themselves ultimately, as he and other proponents claimed.

Copyright Agence France-Presse, 2020

Comments

Comments are closed.