Several senior White House officials have begun discussing whether to push for a temporary payroll tax cut as a way to arrest an economic slowdown, the Washington Post reported. Even though deliberations about the payroll tax cut were held Monday, the White House released a statement disputing that the idea was actively under “consideration.” “As [National Economic Council Director Larry Kudlow] said yesterday, more tax cuts for the American people are certainly on the table, but cutting payroll taxes is not something under consideration at this time,” the statement said. The statement and the internal discussions over the payroll tax cut are part of a rapidly evolving effort by the White House to exude confidence about the economy’s strength while simultaneously hunting for ways to bolster business and consumer confidence. Business spending already has pulled back, in part because of fears about the trade war, but consumer spending has remained robust.
