Donald Trump is likely to overpromise and underdeliver on tax cuts
The US president’s actions are aimed at giving a lift to both his working-class base and financial markets
12 August 2020 - 13:42
Washington — President Donald Trump is tapping his presidential authority to make tax changes that Congress is refusing to do, but his limited power means he could end up overpromising and underdelivering on his pledge to slash IRS bills.
Trump has deferred hundreds of billions of dollars worth of payroll tax payments and is contemplating another executive action that would amount to a roughly $100bn capital gains tax cut for investors by changing treasury department guidelines...
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