Cohn: I'm here for the tax reform

Tax cuts to help most in middle-class not all White House

The president has said repeatedly that the plan would provide badly needed tax relief for the middle class.

Chief White House economic adviser Gary Cohn again refused to guarantee that middle-class Americans won't pay more under President Donald Trump's proposed tax plan.

"I am here just for this reason", Cohn said at a briefing on the reform plan. 'You can always find a unique family somewhere'.

The tax plan would almost double the standard deduction to $12,000 for an individual and $24,000 for a couple - this is the dollar amount that reduces the amount of income you're taxed on.

Cohn said the tax proposal was "purely aimed at middle-class families".

'Our framework includes our explicit commitment that tax reform will protect low-income and middle-income households'.

In remarks touting the plan in IN on Wednesday, Trump suggested the tax reform plan represents a historic opportunity.

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Cohn reportedly fell out of Trump's good graces for a period after speaking out publicly against the remarks, and telling the press that he was mulling resigning.

Cohn then responded to the first part about Zeleny's question about the timetable for the White House's tax reform plans before getting around to the Charlottesville question.

"This is a once in a lifetime opportunity", he said.

But host George Stephanopoulos, a veteran of the Bill Clinton administration, pointed out that with the elimination of federal deductions for state and local taxes, many in New York City - and in other high-tax areas of the country - might actually pay more.

It saved New Yorkers a combined $63 billion in 2014, as well as $19 billion in Pennsylvania and $18 billion for MA taxpayers, the Los Angeles Times reported.

"The net impact of the proposal will be to shift a larger portion of the remaining tax burden to households in NY and other northeastern states, as well as California", E.J. McMahon, president of the Empire Center, a fiscally conservative group in NY, wrote of the proposed tax reform. "We have designed a tax plan that is a stimulant for the economy where we are giving tax cuts to middle- and lower-class Americans".

"I would challenge it as double taxation".

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