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Trump concedes there will be no new tax cut ahead of midterms

Posted at 4:51 PM, Oct 22, 2018

President Donald Trump acknowledged Monday there would not be time for Congress to vote through new tax cuts before next month's midterm elections.

That's after he told reporters on Saturday that Republicans would unveil a new package "sometime just prior, I would say, to November."

He conceded in Monday's comments outside the White House there wouldn't be new tax cuts before the November 6 vote. But he insisted the GOP is working toward introducing something in the next few weeks.

"We're putting in a resolution sometime in the next week-and-a-half or two weeks," Trump said, suggesting he would still make a new tax plan a campaign issue in the closing weeks.

He said the new plan would focus on middle-class Americans, as opposed to businesses, which were one of the main beneficiaries of his first tax cut.

"This is not for business. This is for middle. That's on top of the tax decrease that we've already given," he said.

"I'm going through Congress. We won't have time to do the vote. We'll do the vote later. We'll do the vote after the election," he said.