(CNN) Larry Kudlow, the top economic adviser to President Donald Trump, acknowledged Tuesday that Trump's proposed new tax cuts, that the President has mentioned several times on the campaign trail, may not materialize in the near-term.

But Kudlow insisted Trump's track record means he'll follow through on his promises.

"Last couple years, promises made, promises kept," Kudlow said. "Take him seriously when he comes out with these things. That's been his pattern for a long time. People should not underestimate that."

Kudlow said the White House is working with the House committee charged with writing tax law.

"We're working through the Ways and Means, as you have to do in these things," he said. "It may not surface for a while ... but that's his goal. That's his policy intent. I don't see anything wrong with that."

Read More