© 2026 ABC News

The president’s renewed interest in another round of tax cuts comes after his previous pledge, in the weeks just before the 2018 midterm elections, to pursue a 10 percent tax cut for the middle class. After the election, the president dropped all discussion of the promised tax cuts.

Trump continued to insist that the economy is in great shape but also continued to harshly criticize the Federal Reserve, saying the Fed needs to “do its job” and cut rates.

“We're far from the recession,” Trump said. “If the fed would do its job, I think it would have a tremendous spurt of growth. A tremendous spurt, the fed is psychologically very important, less so actually, but very psychologically important, if the fed would do its job, which it's done poorly over the last year and a half, you would see a burst of growth like you've never seen before.\"

","canonicalUrl":"https://abcnews.com/Politics/trump-white-house-insists-economy-strong-weighing-tax/story?id=65075257","legacySlug":"/news/story/trump-white-house-insists-economy-strong-weighing-tax-65075257","noIndexNoFollow":false},"publishTime":"20:18","publishDate":"08-20-2019","updatedTime":"21:10","updatedDate":"08-20-2019","socialImage":{"alt":"President Donald Trump speaks to the press before boarding Air Force One in Morristown, N.J., Aug. 18, 2019.","credit":"Nicholas Kamm/AFP/Getty Images","ratio":"16x9","url":"https://s.abcnews.com/images/Politics/trump-2-gty-er-190818_hpMain_16x9_1600.jpg","width":992,"height":558},"datePublished":"8/20/2019 20:18:00 GMT","video":{"live":false,"id":65075257,"headline":"Trump confirms he's considering new tax cuts ","mediaAssetTitle":"TRUMP/RECESSION CONTINGENCY PLANS","description":"White House officials had said a payroll tax cut was not being considered. ","duration":"5:11","posterImg":{"url":"https://s.abcnews.com/images/GMA/default-img-undefined.png","width":608,"height":342},"video":{"feed":"https://service-pkgabcnews.akamaized.net/opp/hls/abcnews/2019/08/190820_abcnl_trump_economy_,500,800,1200,1800,2500,3200,4500,.mp4.csmil/playlist.m3u8"},"playlist":["132306053","132266872","132055565"]},"relatedItems":[{"contentType":"video","date":"April 23, 2026","headline":"Trump orders Navy to 'shoot and kill' any boat laying mines in Strait of Hormuz","section":"News","slug":"/video/132306053","id":"132306053","image":{"alt":"VIDEO: Trump orders Navy to 'shoot and kill' any boat laying mines in Strait of Hormuz","credit":"ABCNews.com","ratio":"1x1","url":"https://s.abcnews.com/images/GMA/260423_gma_scott_ceasefire3_hpMain_1x1_608.jpg","width":384,"height":384},"images":{"alt":"VIDEO: Trump orders Navy to 'shoot and kill' any boat laying mines in Strait of Hormuz","credit":"ABCNews.com","crops":[{"16x9":{"small":"https://s.abcnews.com/images/GMA/260423_gma_scott_ceasefire3_hpMain_16x9_608.jpg","medium":"https://s.abcnews.com/images/GMA/260423_gma_scott_ceasefire3_hpMain_16x9_992.jpg","large":"https://s.abcnews.com/images/GMA/260423_gma_scott_ceasefire3_hpMain_16x9_1600.jpg"}},{"9x16":{"small":"https://s.abcnews.com/images/GMA/260423_gma_scott_ceasefire3_hpMain_9x16_608.jpg","medium":"https://s.abcnews.com/images/GMA/260423_gma_scott_ceasefire3_hpMain_9x16_992.jpg","large":"https://s.abcnews.com/images/GMA/260423_gma_scott_ceasefire3_hpMain_16x9_1600.jpg"}},{"1x1":{"small":"https://s.abcnews.com/images/GMA/260423_gma_scott_ceasefire3_hpMain_1x1_608.jpg","medium":"https://s.abcnews.com/images/GMA/260423_gma_scott_ceasefire3_hpMain_1x1_992.jpg","large":"https://s.abcnews.com/images/GMA/260423_gma_scott_ceasefire3_hpMain_1x1_1600.jpg"}}]}},{"contentType":"video","date":"April 22, 2026","headline":"Fallout after Fed nominee grilled on Capitol Hill","section":"News","slug":"/video/132266872","id":"132266872","image":{"alt":"VIDEO: Fallout after Fed nominee grilled on Capitol Hill","credit":"ABCNews.com","ratio":"1x1","url":"https://s.abcnews.com/images/GMA/260422_gma_schulze_fed3_713_hpMain_1x1_608.jpg","width":384,"height":384},"images":{"alt":"VIDEO: Fallout after Fed nominee grilled on Capitol Hill","credit":"ABCNews.com","crops":[{"16x9":{"small":"https://s.abcnews.com/images/GMA/260422_gma_schulze_fed3_713_hpMain_16x9_608.jpg","medium":"https://s.abcnews.com/images/GMA/260422_gma_schulze_fed3_713_hpMain_16x9_992.jpg","large":"https://s.abcnews.com/images/GMA/260422_gma_schulze_fed3_713_hpMain_16x9_1600.jpg"}},{"9x16":{"small":"https://s.abcnews.com/images/GMA/260422_gma_schulze_fed3_713_hpMain_9x16_608.jpg","medium":"https://s.abcnews.com/images/GMA/260422_gma_schulze_fed3_713_hpMain_9x16_992.jpg","large":"https://s.abcnews.com/images/GMA/260422_gma_schulze_fed3_713_hpMain_16x9_1600.jpg"}},{"1x1":{"small":"https://s.abcnews.com/images/GMA/260422_gma_schulze_fed3_713_hpMain_1x1_608.jpg","medium":"https://s.abcnews.com/images/GMA/260422_gma_schulze_fed3_713_hpMain_1x1_992.jpg","large":"https://s.abcnews.com/images/GMA/260422_gma_schulze_fed3_713_hpMain_1x1_1600.jpg"}}]}},{"contentType":"video","date":"April 15, 2026","headline":"American influencer found dead in Tanzania","section":"News","slug":"/video/132055565","id":"132055565","image":{"alt":"VIDEO: American influencer found dead in Tanzania","credit":"ABCNews.com","ratio":"1x1","url":"https://s.abcnews.com/images/GMA/260415_gma_norwood_ashlee2_732_hpMain_1x1_608.jpg","width":384,"height":384},"images":{"alt":"VIDEO: American influencer found dead in Tanzania","credit":"ABCNews.com","crops":[{"16x9":{"small":"https://s.abcnews.com/images/GMA/260415_gma_norwood_ashlee2_732_hpMain_16x9_608.jpg","medium":"https://s.abcnews.com/images/GMA/260415_gma_norwood_ashlee2_732_hpMain_16x9_992.jpg","large":"https://s.abcnews.com/images/GMA/260415_gma_norwood_ashlee2_732_hpMain_16x9_1600.jpg"}},{"9x16":{"small":"https://s.abcnews.com/images/GMA/260415_gma_norwood_ashlee2_732_hpMain_9x16_608.jpg","medium":"https://s.abcnews.com/images/GMA/260415_gma_norwood_ashlee2_732_hpMain_9x16_992.jpg","large":"https://s.abcnews.com/images/GMA/260415_gma_norwood_ashlee2_732_hpMain_16x9_1600.jpg"}},{"1x1":{"small":"https://s.abcnews.com/images/GMA/260415_gma_norwood_ashlee2_732_hpMain_1x1_608.jpg","medium":"https://s.abcnews.com/images/GMA/260415_gma_norwood_ashlee2_732_hpMain_1x1_992.jpg","large":"https://s.abcnews.com/images/GMA/260415_gma_norwood_ashlee2_732_hpMain_1x1_1600.jpg"}}]}}],"relatedContentSection":"news","schemaContent":{"name":"Trump confirms he's considering new tax cuts ","description":"White House officials had said a payroll tax cut was not being considered. ","duration":"5:11","uploadDate":"08-20-2019","publication":"08-20-2019","images":"https://s.abcnews.com/images/GMA/default-img-undefined.png","url":"https://service-pkgabcnews.akamaized.net/opp/hls/abcnews/2019/08/190820_abcnl_trump_economy_,500,800,1200,1800,2500,3200,4500,.mp4.csmil/playlist.m3u8","contentUrl":"https://service-pkgabcnews.akamaized.net/opp/hls/abcnews/2019/08/190820_abcnl_trump_economy_,500,800,1200,1800,2500,3200,4500,.mp4.csmil/playlist.m3u8","link":"https://www.goodmorningamerica.com/news/story/trump-white-house-insists-economy-strong-weighing-tax-65075257"}},"playlist":[{"id":"132281378","contentType":"story","section":"news"},{"id":"132283010","contentType":"story","section":"news"},{"id":"132273278","contentType":"story","section":"news"},{"id":"132231169","contentType":"story","section":"news"},{"id":"132206748","contentType":"story","section":"news"},{"id":"132200241","contentType":"story","section":"news"},{"id":"132054443","contentType":"story","section":"news"},{"id":"132054798","contentType":"story","section":"news"},{"id":"132033010","contentType":"story","section":"news"},{"id":"131912713","contentType":"story","section":"news"},{"id":"131830583","contentType":"story","section":"news"},{"id":"131834976","contentType":"story","section":"news"},{"id":"131554765","contentType":"story","section":"news"},{"id":"131554815","contentType":"story","section":"news"},{"id":"131543053","contentType":"story","section":"news"},{"id":"131432442","contentType":"story","section":"news"},{"id":"131121474","contentType":"story","section":"news"},{"id":"131247079","contentType":"story","section":"news"},{"id":"131228784","contentType":"story","section":"news"},{"id":"131178806","contentType":"story","section":"news"}],"kvps":{"pgtyp":"article","lang":"en","sp":"goodmorningamerica","programmatic":"true","bundleId":"com.abcnews"}},"analytics":{"accountID":"wdgnewwdgnewgmaweb","ns":"gma","pageName":"gma:news:video","pageType":"video","globalSpecVersion":"v1.08","siteDifferentiator":"gma:site","tagID":"g_page01","userABCookie":"0","section":"news","title":"Trump confirms he's considering new tax cuts ","pubTime":"16:18","pubDate":"08-20-2019","modTime":"17:10","modDate":"08-20-2019","taxonomyTags":"none","id":65075257,"editorialOtherSubjects":"","wordCount":"none","columns":"none","authors":"","authorsUnit":"none","authorsBureau":"none","subBrand":"Good Morning America","provider":"Good Morning America","videoName":"Trump confirms he's considering new tax cuts ","mediaAssetTitle":"TRUMP/RECESSION CONTINGENCY PLANS","videoId":65075257,"mediaOnPage":"video","legacySlug":"/news/story/trump-white-house-insists-economy-strong-weighing-tax-65075257"},"taboola":{}},"request":{"headers":{},"httpVersion":"1.1","method":"GET","url":"/video/65075257","vary":{"host":"www.goodmorningamerica.com","cached":true,"path":"/video/65075257","forwarded-proto":"https","device":"desktop","userab":"0"}},"viewport":{"width":1260,"height":0},"user":{}};