U.S. President Donald Trump said May 22 that he will propose new tax cuts before the midterm elections in November when Republicans seek to retain their control of the U.S. Congress. He did not provide any details, Reuters reported.
The president said he will discuss the proposal with Rep. Kevin Brady, R-Texas, chairman of the House Ways and Means Committee, the newswire said.
"We're going to be submitting additional tax cuts sometime prior to November," Trump said in a speech before an anti-abortion group the Susan B. Anthony List.
In December 2017 Trump signed his signature legislative achievement, a $1.5 trillion tax cut. The tax bill created huge savings for companies by reducing corporate tax to 21% from 35%. The tax overhaul also gave companies a tax break on repatriated overseas profits.
All members of the House of Representatives and a third of the Senate are up for re-election in the November vote.
Democrats must take 23 seats from the Republicans to take over the 435-member House. Republicans control the Senate 51 to 49, said Reuters.
