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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

Nov 18, 2020 - World

Biden's Middle East team might look a lot like Obama's

Biden visits Jordan in 2016. Photo: Khalil Mazraawi/AFP via Getty

Biden and his team are in the early stages of staffing his administration, and I've been sounding out my sources on who is expected to handle Middle East policy at the National Security Council, the State Department and the Pentagon.

The state of play: Nothing is set in stone, but several people in Biden's foreign policy circle said they expect many of the senior staffers to be veterans of the Obama administration.

22 mins ago - Health

U.S. exceeds 100,000 COVID-related hospitalizations for the first time

People wait outside the Emergency room of the Garfield Medical Center in Monterey Park, California on Dec 1. Photo: Frederic J. Brown/Getty Images

More than 100,200 Americans were hospitalized as of Wednesday due to the coronavirus for the first time since the outbreak began in early 2020, per the COVID Tracking Project.

The big picture: The milestone comes as health officials anticipated cases to surge due to holiday travel and gatherings. The impact of the holiday remains notable, as many states across the country are only reporting partial data.

4 hours ago - Science

The "war on nature"

A resident stands on his roof as the Blue Ridge Fire burned back in October in Chino Hills, Calif. Photo: Jae C. Hong/AP

Apocalyptic weather is the new normal because humans are "waging war on nature," the UN declared on Wednesday.

What they're saying: "The state of the planet is broken," said UN Secretary-General António Guterres, reports AP. “This is suicidal.”