Donald Trump Promises to Cut Taxes and Regulation ‘Massively’

President Donald Trump speaks while hosting a breakfast with business leaders in the Roosevelt Room of the White House in Washington, Monday, Jan. 23, 2017. At left is Alex Gorsky, chairman and chief executive officer of Johnson & Johnson. (AP Photo/Pablo Martinez Monsivais)

President Donald Trump met with business CEOs and leaders on Monday morning, having a breakfast meeting where he promised to meet with them on a regular basis in his administration.

“We are going to be cutting taxes massively for both the middle class and for companies,” he said during the meeting. “And that’s massively. We’re trying to get it down to anywhere from 15 to 20 percent.”

Trump said that he would also cut regulations, something he said “surprised” him when he learned just how damaging some of the regulations could be.

‘[W]e are going to be cutting regulation massively … we think we can cut regulations by 75 percent,” he said.

The president met Michael S. Dell of Dell Technologies, Jeff M. Fettig of Whirlpool, Mark Fields of Ford Motor Company, Alex Gorsky of Johnson & Johnson, Marillyn A. Hewson of Lockheed Martin, Klaus Kleinfeld of Arconic, Andrew N. Liveris of Dow Chemical, Mario Longhi of U.S. Steel, Elon R. Musk of SpaceX, Kevin Plank of Under Armour, Mark S. Sutton of International Paper, and Wendell P. Weeks of Corning

Trump warned that any company that wanted to shift jobs overseas would be punished.

“If that happens, we are going to be imposing a very major border tax on the products when it comes in,” he said.


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