Donald Trump Meets US CEOs at Business Roundtable Quarterly Meeting

Former President Donald Trump convened a gathering of over 80 CEOs in Washington on Thursday, offering a pledge of potential tax cuts and reduced business regulations if re-elected in November.

Trump's remarks, delivered at the Business Roundtable's quarterly meeting, outlined plans to lower corporate taxes and revive economic policies from his previous term, promising continuity for corporate leaders, CNBC reports.

Donald Trump, aiming for a return to the White House, proposed lowering the federal corporate tax rate to 20% from the current 21%, a move he believes would bolster competitiveness and stimulate economic growth, sources familiar with the meeting disclosed.

Addressing a gathering that included top executives like JPMorgan Chase's Jamie Dimon and Apple's Tim Cook, Trump underscored the potential benefits of a reduced corporate tax burden, positioning it as essential for sustaining economic recovery and encouraging business expansion.

Trump also highlighted his administration's prior success in cutting taxes, citing the Tax Cuts and Jobs Act of 2017, which he touted as a catalyst for job creation and corporate investment during his presidency.

He emphasized his intention to make these tax cuts permanent if elected, a move aimed at providing long-term stability for businesses navigating post-pandemic economic challenges.

Policy Proposals and Reactions

In a "fireside chat" format with Larry Kudlow, his former economic advisor, Donald Trump further detailed his economic agenda, advocating for additional measures to stimulate the economy.

These included exempting tipped worker earnings from federal taxes, an initiative he introduced to rally support among working-class Americans in recent public addresses.

The Trump-US CEO meeting also served as a platform for Trump to criticize current economic policies under President Joe Biden.

Trump accused the Biden administration of stifling economic growth through excessive regulations and high taxes, contrasting this with his proposed deregulation and tax reduction agenda.

Trump's remarks resonated positively among many CEOs present, who have expressed concerns over potential policy shifts under a new administration, according to Bloomberg.

The prospect of a reduced corporate tax rate from 21% to 20% was welcomed as a potential boon for profitability and competitiveness in global markets, according to sources within the meeting.

Contrasting Visions and Future Prospects

The meeting underscored stark policy differences between Trump and Biden, particularly on economic matters.

While Trump advocated for aggressive tax cuts and deregulation to spur economic growth, Biden's administration has prioritized infrastructure investment, climate initiatives, and social welfare programs as key pillars of its economic strategy.

The contrasting visions presented at the Business Roundtable highlight the divergent paths the country could take depending on the outcome of the upcoming presidential election, the New York Times noted.

Trump's pitch to corporate leaders aimed to solidify support among key business constituencies, positioning himself as a champion of pro-business policies amid broader economic uncertainties.

The gathering of the Trump-US CEO meeting at the Business Roundtable reflects ongoing efforts to shape the economic agenda leading up to the 2024 election.

Donald Trump's proposals for tax cuts and deregulation resonate with corporate leaders seeking stability and favorable business conditions while also drawing criticism from opponents who argue such policies favor the wealthy and exacerbate economic inequality.

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Written by: Ross Key

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