FEDERAL RESERVE/TAXES/TRUMP AS PRESIDENT: “President Donald Trump played up the benefits of his tax cuts on Monday’s [4-15-19] tax filing day in a state where he’s aiming to turn a narrow defeat in the 2016 presidential race into a victory in his re-election bid next year…The $1.5 trillion, 10-year package of tax cuts Trump signed into law in 2017 helped accelerate economic growth in 2018 to a rate of 3 percent, based on the administration’s preferred measure of comparing the fourth quarter of 2018 to the same period in 2017. Most economists — including at the Federal Reserve — anticipate growth will slump this year to just above 2 percent as the stimulus from the tax cuts wanes. The White House insists growth will again top 3 percent this year, saying the benefits from a reduced corporate tax rate and other reductions will boost performance. Larry Kudlow, director of the president’s National Economic Council, pushed back against critics who argue the reductions benefited corporations more than average Americans. Minnesota U.S. Sen. Amy Klobuchar, a 2020 Democratic presidential candidate, said Sunday the tax cuts had added trillions of dollars to the nation’s debate and disproportionately helped the wealthy.”
–Associated Press, “Trump Seeks Mileage for Tax Cuts at Truck Company Appearance,” The New York Times online, April 15, 2019