Trump Floats 10% Middle Class Tax Cut With Election Looming. The Only Problem: Congress Isn’t in Session

President Donald Trump announced a new 10% tax cut would come into effect before the midterms, intended only for the middle class, not for businesses--nor the rich.

The only trouble? Congress isn’t in session, congressional leaders haven’t heard about it, nothing has been drafted, and Trump seemed to have invented it from whole cloth on Oct. 20, based on a confirmation provided by a White House spokesperson who spoke to CNBC.

Trump’s talk of a 10% tax cut comes a few weeks after the...

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