In October 2018, Trump floated unveiling a middle-class tax cut ahead of the midterm elections the following month, but didn’t make the proposal.
A new Trump tax proposal would be highly unlikely to pass the current Democratic-controlled House.
For now, the proposal may be more of a talking point for Trump on the campaign trail, where he is touting the robust economy, stock market performance and his 2017 tax-cut law.
In the meantime, Democrats are hoping they can use the 2017 tax cut against President Trump in 2020, pointing to the fact that polling has not found widespread support for the law. Democrats believe polling shows support for their proposals to raise taxes on the rich.
In fact, U.S. households paid about $1,300 less in individual income taxes in 2018 as a result of the tax cut, according to the Tax Policy Center. About 65% paid less tax, 6% paid more tax and 29% paid about the same, the independent group found. Broken down by income, however, tax cuts accrued to a greater extent to higher income households, the group found.
The president also promised there are health care initiatives coming. "We've done well with health care. We got rid of the individual mandate. That was a thing people couldn't do, they couldn't afford it, they didn't want it,” Trump told reporters in Davos "They were forced to pay a number and not get health care. We are coming up with a plan that is going to be fantastic."