CONGRESS/ELECTION/GOP/TAXES/TRUMP AS PRESIDENT: “Despite President Donald Trump’s repeated promises, don’t expect Congress to pass a new middle-class tax cut anytime in the near future. The President has talked up the possibility of a 10% tax cut for middle-income Americans on the campaign trail and in the White House in recent days. But the idea, which appeared to materialize out of thin air, has taken Republicans on Capitol Hill by surprise and prompted Trump’s own economic adviser on Tuesday [10-23-18] to concede that any cuts ‘may not surface for a while.’ When Trump first floated the idea of a new tax cut over the weekend, he suggested it could be unveiled ahead of the midterms. The House and Senate are out of session through the midterm elections, however, which are now just two weeks away. Beyond that, it’s not clear there is any specific legislative proposal on Capitol Hill that would achieve the President’s goal. And even if Republicans push for tax cuts after the midterms, it could be difficult, if not impossible, for any new tax cut to pass both chambers when lawmakers return to Washington for a lame-duck session before a new Congress takes over in January.”
–Clare Foran and Phil Mattingly, “Congress isn’t likely to make Trump’s new tax-cut pledge a reality anytime soon,” CNN Politics, CNN.com, October 23, 2018 6:51 pm