Larry Kudlow, the veteran financial guru and former economist in the Reagan administration, said President Donald Trump’s pro-business agenda is in doubt as the White House sinks deeper into turmoil.
The Dow Jones Industrial Average plunged more than 370 points on Wednesday, a day after the New York Times reported that Trump asked former FBI director James Comey to stop looking into ties between Russia and national security adviser Michael Flynn. The revelation spurred greater speculation that Trump faces possible impeachment.
“I don’t think any of this helps the tax cut,” Kudlow said on CNBC, referring to a cornerstone pledge of the Trump campaign. “I don’t know that it kills it. I get that. They’re very far along,” he said of lawmakers drafting proposals for tax reform. “There is no actual legislative print from either the House or the Senate on the tax and that tells you something.”