President Trump's chief economic advisor Gary Cohn said Thursday middle-class Americans would benefit significantly from the GOP tax reform proposal, including renovating a kitchen with $1,000.

The former Goldman Sachs CEO said families earning $100,000 with two children would save about $1,000 under the tax plan.

"If we allow a family to keep another $1,000 of their income, what does that mean? They can renovate their kitchen, they can buy a new car, they can take a family vacation, they can increase their lifestyle," he said.

A family income of $100,000 is well above the national median household income of roughly $59,000. According to, the average price of a kitchen renovation in 2017 is north of $21,000.

Cohn was responding to a question at the daily White House press briefing from a reporter who asked if Trump would personally save millions of dollars under the plan. He did not directly assess Trump's potential savings.