Trump seemed to acknowledge that on Wednesday. “I think it’s probably better for the high-income people and I’m not looking to do that,” Trump said.

Trump has previously said he is looking at cutting payroll taxes, a move that could quickly lower levies on working Americans. However, Trump has also said that a payroll cut isn’t needed right now because the economy is strong.

Trump’s comments came as the U.S. economy has shown warning signs that could presage a recession, although economists surveyed by Bloomberg News say there’s only a 35% chance of it hitting within the next year.

--With assistance from Saleha Mohsin.

This article was provided by Bloomberg News.

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