Bloomberg Says Plans Leave Scant Leeway for Middle-Class Tax Cut
- Former New York mayor has proposed plan to raise $5 trillion
- Tax plan reverses Trump tax cuts, raises levies on the wealthy
Michael Bloomberg on Feb. 3.
Photographer: Frederic. J. Brown/AFP via Getty Images
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Michael Bloomberg said he doubts he would be able to cut middle-class taxes very much as president because of the need to raise revenue for crumbling U.S. infrastructure, social programs and other items.
“I don’t think that you can cut middle-class taxes very much. We have an infrastructure need that is enormous in this country, and all of the social programs that every candidate including me wants to enact, somebody’s got to pay for it,” Bloomberg said in an interview Monday in Compton, California.