Trump wants to cut taxes. Again. He just cut taxes.

President Donald Trump is in campaign mode and he seemed to make a new pledge Tuesday night, saying he would offer so...

Posted: May 23, 2018 1:47 PM
Updated: May 23, 2018 1:47 PM

President Donald Trump is in campaign mode and he seemed to make a new pledge Tuesday night, saying he would offer some kind of new tax cuts before November.

"We're going to be submitting additional tax cuts sometime prior to November," Trump said during a speech to the anti-abortion rights group Susan B. Anthony List.

And that was it. No specifics. No more information.

What happens in November? Midterm elections. Could the promise of new tax cuts excite the GOP base and help them ward off the anti-Trump fervor expected to drive Democrats to the voting booth?

RELATED: 45% of tax filers will owe nothing in federal income tax this year

The funny thing here is that Republicans just passed a massive and thorough slate of tax cuts, permanent for corporations and temporary for individuals. It was supposed to be a wholesale restructuring of the US tax code.

And they didn't do it overnight. Even though Republicans had been licking their lips for years at the prospect of slashing corporate tax rates to give American businesses more room to grow, it took pretty much all of 2017 for them to get the job done.

Granted, they had no help from Democrats, but it was a tortured process in which they had to focus all their power on Capitol Hill.

It wasn't easy.

And it hasn't yet turned out to be very popular.

RELATED: How businesses are really spending their tax cuts

An NBC News/Wall Street Journal poll asked if the Republican tax law was a good idea. Just 27% said it was. Thirty-six percent said it was a bad idea and 34% had no opinion. Republicans were the only partisan group in which a majority (56%) favored the law. Just 6% of Democrats and 26% of independents agreed.

Granted, many of the benefits for individuals don't kick in until Americans file their taxes next April, but Republicans had clearly hoped that delivering on a long-stated promise of tax reform would pay off.

So -- putting aside the possibility that Trump is just trying to find a way to remind people about his great and only major legislative win -- it's a little unclear why he would be vaguely proposing new tax cuts to be unveiled in tandem with Election Day.

Which taxes, exactly, would be cut, and how would they be paid for?

Passing the first round of tax cuts is a move that is already giving budget hawks heartburn -- though not enough to vote against it. The new tax law is slated to help push US deficits over $1 trillion as soon as 2020 and $2 trillion by 2028 unless or until the economy, which has been on a tear, grows even more to pay for them. Or the US government will have to further tighten its belt, cutting spending or reforming things like Social Security and Medicare, an effort which would lead to frustrations of its own.

There is also some evidence of buyer's remorse on the cuts that already passed. And perhaps that's some of what's behind Trump's comments. There's more to do!

Sen. Marco Rubio pointed out this tension in an interview with The Economist in early May when he implied the cuts arguably did more for corporations than for people. He later clarified they did a lot for people, too.

"There is still a lot of thinking on the right that if big corporations are happy, they're going to take the money they're saving and reinvest it in American workers," Rubio told The Economist. "In fact, they bought back shares, a few gave out bonuses; there's no evidence whatsoever that the money's been massively poured back into the American worker."

Americans remain bullish on the economy, however, and they trust Republicans more on that issue.

We'll have to wait and see what exactly Trump meant and whether his comments are a precursor of a new tax cut effort, better than the old tax cut effort.

Indiana Coronavirus Cases

Data is updated nightly.

Cases: 1097128

Reported Deaths: 17438
CountyCasesDeaths
Marion1437882222
Lake712531225
Allen65537867
Hamilton50147482
St. Joseph48760639
Elkhart39461538
Vanderburgh34221495
Tippecanoe30237271
Johnson27179463
Hendricks25845379
Porter25014381
Madison20656444
Clark19898275
Vigo18764308
LaPorte16857260
Delaware16425291
Howard16408311
Monroe16379217
Kosciusko13936163
Hancock12841185
Bartholomew12686188
Warrick11995189
Wayne11879265
Floyd11869225
Grant11701235
Morgan10252188
Boone9675120
Noble9069121
Henry9002165
Marshall8907146
Dearborn881799
Dubois8710139
Shelby8054128
Cass8014127
Lawrence7922182
DeKalb7591106
Huntington7448108
Jackson743893
Gibson7002118
Montgomery6910123
Harrison685296
Knox6827113
Steuben654186
Miami6477107
Whitley642260
Putnam631982
Clinton618976
Wabash6060108
Jasper601791
Jefferson5689103
Ripley549192
Adams532381
Daviess5003116
Scott480378
Wells471799
White468767
Greene461799
Clay457462
Decatur4529109
Jennings439666
Fayette435694
LaGrange419290
Posey403244
Washington384154
Randolph3818107
Fountain368362
Spencer355846
Fulton355572
Starke348772
Owen346276
Sullivan344954
Orange324470
Jay318650
Rush298332
Carroll289438
Franklin286744
Perry283253
Vermillion280458
Tipton247365
Parke246330
Pike244144
Blackford218044
Pulaski205658
Newton179052
Brown171850
Crawford167929
Benton163217
Martin150819
Switzerland145112
Warren132216
Union117816
Ohio91413
Unassigned0585

Ohio Coronavirus Cases

Data is updated nightly.

Cases: 1683472

Reported Deaths: 26483
CountyCasesDeaths
Franklin1766331826
Cuyahoga1641462636
Hamilton1122641528
Montgomery794721387
Summit702171199
Lucas618431017
Butler55878803
Stark525841170
Lorain41058639
Warren35404412
Mahoning35095769
Lake31445493
Clermont30711362
Delaware26682182
Trumbull26664611
Licking26200335
Medina25291351
Fairfield24173287
Greene24051369
Clark21653387
Portage20709280
Richland20587336
Wood19626246
Allen18542320
Miami17031348
Columbiana16502331
Muskingum16416206
Wayne15432304
Tuscarawas14086357
Marion13054194
Erie12423198
Ashtabula12314225
Scioto12235182
Pickaway12070151
Ross11487223
Hancock11256173
Geauga10666174
Lawrence10504171
Belmont10259231
Huron9588155
Jefferson9462225
Union939175
Sandusky9068166
Seneca8692156
Knox8618169
Washington8613156
Athens827396
Darke8270179
Ashland7840147
Auglaize7741115
Shelby7337132
Defiance7210114
Crawford7082150
Brown7052115
Fulton7016111
Logan6857108
Mercer681697
Guernsey680283
Highland6615117
Madison641389
Clinton6388106
Williams628798
Preble6171139
Putnam6089120
Jackson572396
Champaign568286
Perry558879
Coshocton5552103
Ottawa553599
Morrow506464
Fayette483170
Hardin477899
Gallia462978
Pike459076
Van Wert454691
Adams4514109
Henry424976
Hocking401493
Holmes3939137
Wyandot367973
Carroll351578
Paulding319349
Meigs302457
Monroe231860
Noble216447
Morgan210138
Harrison205152
Vinton183937
Unassigned05
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