Economics
Cohn Says He’s Dumbfounded by Tax Plan’s Unpopularity
- Trump lost effort to cut carried-interest provision: Cohn
- Bill passed by Senate scored poorly in public opinion polls
President Trump Will Claim Victory on Tax Reform
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White House economic adviser Gary Cohn said he was dumbfounded by the unpopularity of the Republican tax bill, and claimed that President Donald Trump fought unsuccessfully to strip a provision that mostly benefits wealthy investors.
“To be honest with you, I don’t know,’’ Cohn said Wednesday at a Washington event hosted by Axios, when asked why the plan lacked public support. Middle-income Americans “are getting the largest percentage tax savings of anyone in the whole distribution. So we have clearly not communicated that.”