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Photo: Axios

If President Trump gets reelected, he will continue deregulation and lowering taxes, White House chief economic adviser Larry Kudlow said Friday at an Axios virtual event, contending that the president's policies led to "three years, pre-pandemic, of a boom,"

Why it matters: Trump's re-election campaign has been focusing on the prepandemic economy as voters are casting their ballots.

What he's saying: "His policies, the tax cuts and the deregulation especially, the people who benefited were those that needed it the most. Those are facts," Kudlow said.

  • "It was the middle class and the lower rungs of the income ladder who had the biggest gains under President Trump. It was not just for rich people."
  • "We are on the road to long-term prosperity. And I think we can pick up on that. I think we can pick up on that once we get through this difficult period."
  • "We are now working on a middle-class tax cut. We are working on some additional business tax cuts."

Yes, but: Trump has been criticized for not releasing specifics about how his second-term economic plan would work.

  • Kudlow said that he does not think the president needs to release a detailed plan because "he's the incumbent" and "has a very clear track record with a very clear set of economic principles."
    • His answers today differ from those he gave in January when he said Trump would be releasing a new tax proposal during the summer, The Hill reported.

Go deeper: Big banks saved billions thanks to the Trump tax cuts

Watch the event.

Go deeper

Jan 25, 2021 - Politics & Policy

Janet Yellen confirmed as Treasury secretary

Janet Yellen. Photo: Alex Wong/Getty Images

The Senate voted 84-15 to confirm Janet Yellen as Treasury secretary on Monday.

Why it matters: Yellen is the first woman to serve as Treasury secretary, a Cabinet position that will be crucial in helping steer the country out of the pandemic-induced economic crisis.

Updated 18 mins ago - Sports

MLB enters first lockout since '95 as deal expires

Baseball Commissioner Rob Manfred (L) and Major League Baseball Players Association executive director Tony Clark. Photo: Matt King/MLB via Getty Images

Major League Baseball's collective bargaining agreement expired at 11:59 p.m. ET Wednesday without a new deal in place.

Why it matters: With no CBA, the MLB is in a management lockout — the first work stoppage since a 1994-95 strike led to the cancelation of the World Series for the first time in 90 years.

Media giants back Bannon's bid to release Jan. 6 documents

Former Trump adviser Steve Bannon at the FBI Washington Field Office in Washington, DC., in November. Photo: Win McNamee/Getty Images

A coalition of news outlets including the Washington Post is supporting Stephen Bannon's campaign for the release of documents related to his contempt of Congress charges, WashPost confirmed Wednesday.

Why it matters: WashPost, the New York Times, CNN, NBC, the Wall Street Journal's parent company and others filed a motion arguing that a proposed protective order seeking to prevent the documents from being released violates the First Amendment, per the Daily Mail, which first reported on the news.