Janet Yellen: “They have proposed a tax plan that would reduce Federal revenue more than 2 trillion dollars.”

He will oppose any tax increases on families earning under $400,000 at the same time that he will oppose keeping in place benefits that went to the wealthy.

The most recent and optimistic estimate I’ve seen suggested that the average household will see on the order of $1,000 reduction in income.

I would expect inflation, on a year-over-year basis of this year, to shoot up to at least 3%, or slightly over, because of the tariffs.

There will be a negotiation over what to do when these tax cuts expire.