President Donald Trump told business leaders visiting the White House on Monday that he will cut taxes and regulation “massively“ and asked them to advise him on how to stimulate manufacturing in the U.S.
“We are going to be cutting taxes massively both for the middle class and for companies — and that’s massively,” he told the executives gathered in the Roosevelt Room.
The tax rate for companies, Trump suggested, should go down to 15 or 20 percent. And his administration thinks “we can cut regulations by 75 percent, maybe more,” he said, arguing that existing regulations on businesses are cumbersome and unnecessary.
“We’re going to have regulation, and it’ll be just as strong and just as good and just as protective of the people as the regulation we have right now,” he said. “The problem with the regulation we have right now is that you can’t do anything.”