White House adviser Kudlow says more tax overhauls likely not immediate

WASHINGTON: White House economic adviser Larry Kudlow said on Thursday that a second phase to overhauling the US tax system is not likely to be immediate, adding that he expected to see more concrete details on the plan next year.

It was possible for US economic growth to reach 5 percent for at least a short period of time, Kudlow said in an interview with Fox Business Network. The US economy has grown about 2 percent a year since a recession ended in 2009.