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Trump tells manufacturers he will cut regulations, taxes

Source: neworleanscitybusiness.com/blog/2017/01/23/trump-tells-manufacturers-he-will-cut-regulations-taxes/ - Jan 23, 2017

U.S. President Donald Trump met with a dozen prominent American manufacturers at the White House on Monday, promising them he would slash regulations and cut corporate taxes, but warning them of penalties if they moved production outside the country.

Trump, who took office on Friday, promised to bring manufacturing plants back to the United States during his campaign, and has not hesitated to call out by name companies that he thinks should bring outsourced production back home.

He told the chief executives of Ford, Dow Chemical, Dell Technologies, Tesla and others that he would like to cut corporate taxes to the 15 percent to 20 percent range, down from current statutory levels of 35 percent – a pledge that will require cooperation from the Republican-led U.S. Congress.

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Category: General Business