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The White House officials are increasingly worried that a global economic slowdown will trigger a election year recession in the US and are weighing a broader package of measures, including a cut of an additional percentage point or two to the corporate tax rate and a potential payroll tax cut.  

The administration is also considering indexing the capital gains rate to inflation.  

“If the U.S. were to face a recession, it would be moderate and short,” Mick Mulvaney, acting White House chief of staff, told roughly 50 donors at a fundraising luncheon this week in Jackson, Wyoming,