Larry Kudlow, the top economic adviser to President Donald Trump, acknowledged Tuesday that Trump’s proposed new tax cuts, that the President has mentioned several times on the campaign trail, may not materialize in the near-term.
But Kudlow insisted Trump’s track record means he’ll follow through on his promises.
“Last couple years, promises made, promises kept,” Kudlow said. “Take him seriously when he comes out with these things. That’s been his pattern for a long time. People should not underestimate that.”
Kudlow said the White House is working with the House committee charged with writing tax law.
“We’re working through the Ways and Means, as you have to do in these things,” he said. “It may not surface for a while … but that’s his goal. That’s his policy intent. I don’t see anything wrong with that.”
At a Monday night rally, Trump once again said he plans to offer a new tax cut plan before the midterms, even though no one seems to know what it will look like or how it might get through a Congress that only barely managed to pass its previous round of tax cuts last year.
“We’re putting in a resolution sometime in the next week-and-a-half or two weeks,” Trump told reporters on his way to a campaign rally in Houston for Texas Republican Sen. Ted Cruz.
Kudlow also confirmed on Tuesday that Trump and Chinese President Xi Jinping will meet on the sidelines of next month’s G20 summit in Argentina. Kudlow suggested trade would be a key part of the discussion.
CNN’s Donna Borak and Jim Acosta contributed to this report.