Former Vice President Joe Biden says he wanted to cut taxes for the middle class during the final years in the White House in order to give Americans tangible proof of the Obama administration’s accomplishments.
“We had the big debate about what our focus should be on the economy in the last two years,” Biden said in an interview on Pod Save America, a podcast hosted by four Obama administration alumni. “The president let me come in with my team to make a presentation that we should have a middle class tax cut. The economists came in and said, ‘well, that’s not going to stimulate the economy.'”
Biden said that he and his advisers debated with other economists for two days in the Roosevelt Room of the White House, but in the end the administration declined to push for tax cuts. “What I was trying to do was actually demonstrate tangibly that we’re listening,” Biden said.
The conversation was sparked by what former President Barack Obama should have done in the last years of his administration to prove that his economic policies were working for the American people.
“I wish we could have done again going back as I wish we had let people know simultaneously ‘this is what we’re doing. By the way the reason why you are bum-bum-bum this is why. The reason why this job came back is because of — this is what we did the reason,'” Biden said.
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President Donald Trump’s vaunted Tax Cuts and Jobs Act, signed into law in late 2017, offered reduced tax rates for individuals as well as high one-time tax benefits for corporations, and remains one of the more popular accomplishments in part due to businesses offering one-time bonuses to millions of Americans.
Biden is considering challenging Trump in the 2020 presidential election, but said recently he will mount a campaign only if he thinks he’s the best candidate.
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