Reforming business rates and focusing
business tax cuts on «middleweight» entrepreneurial businesses will unleash enterprise and encourage further growth.
Not exact matches
The legislation reduces levies
on owners of small
businesses, while also
cutting income
tax rates for the richest Americans to 37 percent from 39.6 percent.
Important factors that could cause actual results to differ materially from those reflected in such forward - looking statements and that should be considered in evaluating our outlook include, but are not limited to, the following: 1) our ability to continue to grow our
business and execute our growth strategy, including the timing, execution, and profitability of new and maturing programs; 2) our ability to perform our obligations under our new and maturing commercial,
business aircraft, and military development programs, and the related recurring production; 3) our ability to accurately estimate and manage performance, cost, and revenue under our contracts, including our ability to achieve certain cost reductions with respect to the B787 program; 4) margin pressures and the potential for additional forward losses
on new and maturing programs; 5) our ability to accommodate, and the cost of accommodating, announced increases in the build rates of certain aircraft; 6) the effect
on aircraft demand and build rates of changing customer preferences for
business aircraft, including the effect of global economic conditions
on the
business aircraft market and expanding conflicts or political unrest in the Middle East or Asia; 7) customer cancellations or deferrals as a result of global economic uncertainty or otherwise; 8) the effect of economic conditions in the industries and markets in which we operate in the U.S. and globally and any changes therein, including fluctuations in foreign currency exchange rates; 9) the success and timely execution of key milestones such as the receipt of necessary regulatory approvals, including our ability to obtain in a timely fashion any required regulatory or other third party approvals for the consummation of our announced acquisition of Asco, and customer adherence to their announced schedules; 10) our ability to successfully negotiate, or re-negotiate, future pricing under our supply agreements with Boeing and our other customers; 11) our ability to enter into profitable supply arrangements with additional customers; 12) the ability of all parties to satisfy their performance requirements under existing supply contracts with our two major customers, Boeing and Airbus, and other customers, and the risk of nonpayment by such customers; 13) any adverse impact
on Boeing's and Airbus» production of aircraft resulting from cancellations, deferrals, or reduced orders by their customers or from labor disputes, domestic or international hostilities, or acts of terrorism; 14) any adverse impact
on the demand for air travel or our operations from the outbreak of diseases or epidemic or pandemic outbreaks; 15) our ability to avoid or recover from cyber-based or other security attacks, information technology failures, or other disruptions; 16) returns
on pension plan assets and the impact of future discount rate changes
on pension obligations; 17) our ability to borrow additional funds or refinance debt, including our ability to obtain the debt to finance the purchase price for our announced acquisition of Asco
on favorable terms or at all; 18) competition from commercial aerospace original equipment manufacturers and other aerostructures suppliers; 19) the effect of governmental laws, such as U.S. export control laws and U.S. and foreign anti-bribery laws such as the Foreign Corrupt Practices Act and the United Kingdom Bribery Act, and environmental laws and agency regulations, both in the U.S. and abroad; 20) the effect of changes in
tax law, such as the effect of The Tax Cuts and Jobs Act (the «TCJA») that was enacted on December 22, 2017, and changes to the interpretations of or guidance related thereto, and the Company's ability to accurately calculate and estimate the effect of such changes; 21) any reduction in our credit ratings; 22) our dependence on our suppliers, as well as the cost and availability of raw materials and purchased components; 23) our ability to recruit and retain a critical mass of highly - skilled employees and our relationships with the unions representing many of our employees; 24) spending by the U.S. and other governments on defense; 25) the possibility that our cash flows and our credit facility may not be adequate for our additional capital needs or for payment of interest on, and principal of, our indebtedness; 26) our exposure under our revolving credit facility to higher interest payments should interest rates increase substantially; 27) the effectiveness of any interest rate hedging programs; 28) the effectiveness of our internal control over financial reporting; 29) the outcome or impact of ongoing or future litigation, claims, and regulatory actions; 30) exposure to potential product liability and warranty claims; 31) our ability to effectively assess, manage and integrate acquisitions that we pursue, including our ability to successfully integrate the Asco business and generate synergies and other cost savings; 32) our ability to consummate our announced acquisition of Asco in a timely matter while avoiding any unexpected costs, charges, expenses, adverse changes to business relationships and other business disruptions for ourselves and Asco as a result of the acquisition; 33) our ability to continue selling certain receivables through our supplier financing program; 34) the risks of doing business internationally, including fluctuations in foreign current exchange rates, impositions of tariffs or embargoes, compliance with foreign laws, and domestic and foreign government policies; and 35) our ability to complete the proposed accelerated stock repurchase plan, among other thin
tax law, such as the effect of The
Tax Cuts and Jobs Act (the «TCJA») that was enacted on December 22, 2017, and changes to the interpretations of or guidance related thereto, and the Company's ability to accurately calculate and estimate the effect of such changes; 21) any reduction in our credit ratings; 22) our dependence on our suppliers, as well as the cost and availability of raw materials and purchased components; 23) our ability to recruit and retain a critical mass of highly - skilled employees and our relationships with the unions representing many of our employees; 24) spending by the U.S. and other governments on defense; 25) the possibility that our cash flows and our credit facility may not be adequate for our additional capital needs or for payment of interest on, and principal of, our indebtedness; 26) our exposure under our revolving credit facility to higher interest payments should interest rates increase substantially; 27) the effectiveness of any interest rate hedging programs; 28) the effectiveness of our internal control over financial reporting; 29) the outcome or impact of ongoing or future litigation, claims, and regulatory actions; 30) exposure to potential product liability and warranty claims; 31) our ability to effectively assess, manage and integrate acquisitions that we pursue, including our ability to successfully integrate the Asco business and generate synergies and other cost savings; 32) our ability to consummate our announced acquisition of Asco in a timely matter while avoiding any unexpected costs, charges, expenses, adverse changes to business relationships and other business disruptions for ourselves and Asco as a result of the acquisition; 33) our ability to continue selling certain receivables through our supplier financing program; 34) the risks of doing business internationally, including fluctuations in foreign current exchange rates, impositions of tariffs or embargoes, compliance with foreign laws, and domestic and foreign government policies; and 35) our ability to complete the proposed accelerated stock repurchase plan, among other thin
Tax Cuts and Jobs Act (the «TCJA») that was enacted
on December 22, 2017, and changes to the interpretations of or guidance related thereto, and the Company's ability to accurately calculate and estimate the effect of such changes; 21) any reduction in our credit ratings; 22) our dependence
on our suppliers, as well as the cost and availability of raw materials and purchased components; 23) our ability to recruit and retain a critical mass of highly - skilled employees and our relationships with the unions representing many of our employees; 24) spending by the U.S. and other governments
on defense; 25) the possibility that our cash flows and our credit facility may not be adequate for our additional capital needs or for payment of interest
on, and principal of, our indebtedness; 26) our exposure under our revolving credit facility to higher interest payments should interest rates increase substantially; 27) the effectiveness of any interest rate hedging programs; 28) the effectiveness of our internal control over financial reporting; 29) the outcome or impact of ongoing or future litigation, claims, and regulatory actions; 30) exposure to potential product liability and warranty claims; 31) our ability to effectively assess, manage and integrate acquisitions that we pursue, including our ability to successfully integrate the Asco
business and generate synergies and other cost savings; 32) our ability to consummate our announced acquisition of Asco in a timely matter while avoiding any unexpected costs, charges, expenses, adverse changes to
business relationships and other
business disruptions for ourselves and Asco as a result of the acquisition; 33) our ability to continue selling certain receivables through our supplier financing program; 34) the risks of doing
business internationally, including fluctuations in foreign current exchange rates, impositions of tariffs or embargoes, compliance with foreign laws, and domestic and foreign government policies; and 35) our ability to complete the proposed accelerated stock repurchase plan, among other things.
Exactly how much taxpayers would save — or how much more they would pay — depends
on many factors, and as
Business Insider's Josh Barro pointed out,
tax cuts for middle - class Americans aren't likely to be as sweeping as Republicans make it sound.
On a weekly or bi-weekly basis,
business owners or their accountants must pour over spreadsheets, making calculations, filling out government forms, and
cut checks for various
taxes and payments and then often deposit those payments into various accounts.
Kenny Dichter, Wheels Up CEO talks about providing private aviation to travelers, the impact of the
tax cut on his
business, and the launch of the «Red Plane.»
«But if the rate
on pass - through
business income is
cut to 15 percent, and the top rate
on the owner's compensation is 37 percent, some owners could try to lower their reported wages to bring their income -
tax rate down.
He described a plan that stitches together mostly traditional, supply - side prescriptions —
cutting the top individual
tax rate to 33 % and the corporate rate to 15 %, ending the estate
tax, and imposing a moratorium
on new regulation — with his protectionist approach to trade that's had
business howling.
The government program
cuts through the administrative red tape typically involved in starting a
business and significantly eases the
tax burden
on startups.
The House bill lowers the rate for pass - through income, which could
cut taxes on Trump's real - estate and other
businesses.
During his tenure, conservative groups like the Cato Institute lauded his prolific
tax cutting on personal and
business investments, property, and some
business capital investment, though they criticized his increases in state spending.
Perry also had an uneven record
on taxes,
cutting them for property owners, but raising them for small
business owners by broadening the state's franchise
tax base.
While Bush's
business - themed policy proposals will likely offer a mixture of traditionally Republican
tax cuts and so - called trickle down economics, he's likely to define his views
on how to support the middle class, lift up the lowest wage workers, and close the income gap, which would continue
on the themes he started talking about earlier this year.
One of the cornerstones of conservative politics is
cutting taxes for the wealthy — whether that's the corporate
tax rate
on businesses or the individual
tax rate for consumers.
Such risks, uncertainties and other factors include, without limitation: (1) the effect of economic conditions in the industries and markets in which United Technologies and Rockwell Collins operate in the U.S. and globally and any changes therein, including financial market conditions, fluctuations in commodity prices, interest rates and foreign currency exchange rates, levels of end market demand in construction and in both the commercial and defense segments of the aerospace industry, levels of air travel, financial condition of commercial airlines, the impact of weather conditions and natural disasters and the financial condition of our customers and suppliers; (2) challenges in the development, production, delivery, support, performance and realization of the anticipated benefits of advanced technologies and new products and services; (3) the scope, nature, impact or timing of acquisition and divestiture or restructuring activity, including the pending acquisition of Rockwell Collins, including among other things integration of acquired
businesses into United Technologies» existing
businesses and realization of synergies and opportunities for growth and innovation; (4) future timing and levels of indebtedness, including indebtedness expected to be incurred by United Technologies in connection with the pending Rockwell Collins acquisition, and capital spending and research and development spending, including in connection with the pending Rockwell Collins acquisition; (5) future availability of credit and factors that may affect such availability, including credit market conditions and our capital structure; (6) the timing and scope of future repurchases of United Technologies» common stock, which may be suspended at any time due to various factors, including market conditions and the level of other investing activities and uses of cash, including in connection with the proposed acquisition of Rockwell; (7) delays and disruption in delivery of materials and services from suppliers; (8) company and customer - directed cost reduction efforts and restructuring costs and savings and other consequences thereof; (9) new
business and investment opportunities; (10) our ability to realize the intended benefits of organizational changes; (11) the anticipated benefits of diversification and balance of operations across product lines, regions and industries; (12) the outcome of legal proceedings, investigations and other contingencies; (13) pension plan assumptions and future contributions; (14) the impact of the negotiation of collective bargaining agreements and labor disputes; (15) the effect of changes in political conditions in the U.S. and other countries in which United Technologies and Rockwell Collins operate, including the effect of changes in U.S. trade policies or the U.K.'s pending withdrawal from the EU,
on general market conditions, global trade policies and currency exchange rates in the near term and beyond; (16) the effect of changes in
tax (including U.S. tax reform enacted on December 22, 2017, which is commonly referred to as the Tax Cuts and Jobs Act of 2017), environmental, regulatory (including among other things import / export) and other laws and regulations in the U.S. and other countries in which United Technologies and Rockwell Collins operate; (17) the ability of United Technologies and Rockwell Collins to receive the required regulatory approvals (and the risk that such approvals may result in the imposition of conditions that could adversely affect the combined company or the expected benefits of the merger) and to satisfy the other conditions to the closing of the pending acquisition on a timely basis or at all; (18) the occurrence of events that may give rise to a right of one or both of United Technologies or Rockwell Collins to terminate the merger agreement, including in circumstances that might require Rockwell Collins to pay a termination fee of $ 695 million to United Technologies or $ 50 million of expense reimbursement; (19) negative effects of the announcement or the completion of the merger on the market price of United Technologies» and / or Rockwell Collins» common stock and / or on their respective financial performance; (20) risks related to Rockwell Collins and United Technologies being restricted in their operation of their businesses while the merger agreement is in effect; (21) risks relating to the value of the United Technologies» shares to be issued in connection with the pending Rockwell acquisition, significant merger costs and / or unknown liabilities; (22) risks associated with third party contracts containing consent and / or other provisions that may be triggered by the Rockwell merger agreement; (23) risks associated with merger - related litigation or appraisal proceedings; and (24) the ability of United Technologies and Rockwell Collins, or the combined company, to retain and hire key personn
tax (including U.S.
tax reform enacted on December 22, 2017, which is commonly referred to as the Tax Cuts and Jobs Act of 2017), environmental, regulatory (including among other things import / export) and other laws and regulations in the U.S. and other countries in which United Technologies and Rockwell Collins operate; (17) the ability of United Technologies and Rockwell Collins to receive the required regulatory approvals (and the risk that such approvals may result in the imposition of conditions that could adversely affect the combined company or the expected benefits of the merger) and to satisfy the other conditions to the closing of the pending acquisition on a timely basis or at all; (18) the occurrence of events that may give rise to a right of one or both of United Technologies or Rockwell Collins to terminate the merger agreement, including in circumstances that might require Rockwell Collins to pay a termination fee of $ 695 million to United Technologies or $ 50 million of expense reimbursement; (19) negative effects of the announcement or the completion of the merger on the market price of United Technologies» and / or Rockwell Collins» common stock and / or on their respective financial performance; (20) risks related to Rockwell Collins and United Technologies being restricted in their operation of their businesses while the merger agreement is in effect; (21) risks relating to the value of the United Technologies» shares to be issued in connection with the pending Rockwell acquisition, significant merger costs and / or unknown liabilities; (22) risks associated with third party contracts containing consent and / or other provisions that may be triggered by the Rockwell merger agreement; (23) risks associated with merger - related litigation or appraisal proceedings; and (24) the ability of United Technologies and Rockwell Collins, or the combined company, to retain and hire key personn
tax reform enacted
on December 22, 2017, which is commonly referred to as the
Tax Cuts and Jobs Act of 2017), environmental, regulatory (including among other things import / export) and other laws and regulations in the U.S. and other countries in which United Technologies and Rockwell Collins operate; (17) the ability of United Technologies and Rockwell Collins to receive the required regulatory approvals (and the risk that such approvals may result in the imposition of conditions that could adversely affect the combined company or the expected benefits of the merger) and to satisfy the other conditions to the closing of the pending acquisition on a timely basis or at all; (18) the occurrence of events that may give rise to a right of one or both of United Technologies or Rockwell Collins to terminate the merger agreement, including in circumstances that might require Rockwell Collins to pay a termination fee of $ 695 million to United Technologies or $ 50 million of expense reimbursement; (19) negative effects of the announcement or the completion of the merger on the market price of United Technologies» and / or Rockwell Collins» common stock and / or on their respective financial performance; (20) risks related to Rockwell Collins and United Technologies being restricted in their operation of their businesses while the merger agreement is in effect; (21) risks relating to the value of the United Technologies» shares to be issued in connection with the pending Rockwell acquisition, significant merger costs and / or unknown liabilities; (22) risks associated with third party contracts containing consent and / or other provisions that may be triggered by the Rockwell merger agreement; (23) risks associated with merger - related litigation or appraisal proceedings; and (24) the ability of United Technologies and Rockwell Collins, or the combined company, to retain and hire key personn
Tax Cuts and Jobs Act of 2017), environmental, regulatory (including among other things import / export) and other laws and regulations in the U.S. and other countries in which United Technologies and Rockwell Collins operate; (17) the ability of United Technologies and Rockwell Collins to receive the required regulatory approvals (and the risk that such approvals may result in the imposition of conditions that could adversely affect the combined company or the expected benefits of the merger) and to satisfy the other conditions to the closing of the pending acquisition
on a timely basis or at all; (18) the occurrence of events that may give rise to a right of one or both of United Technologies or Rockwell Collins to terminate the merger agreement, including in circumstances that might require Rockwell Collins to pay a termination fee of $ 695 million to United Technologies or $ 50 million of expense reimbursement; (19) negative effects of the announcement or the completion of the merger
on the market price of United Technologies» and / or Rockwell Collins» common stock and / or
on their respective financial performance; (20) risks related to Rockwell Collins and United Technologies being restricted in their operation of their
businesses while the merger agreement is in effect; (21) risks relating to the value of the United Technologies» shares to be issued in connection with the pending Rockwell acquisition, significant merger costs and / or unknown liabilities; (22) risks associated with third party contracts containing consent and / or other provisions that may be triggered by the Rockwell merger agreement; (23) risks associated with merger - related litigation or appraisal proceedings; and (24) the ability of United Technologies and Rockwell Collins, or the combined company, to retain and hire key personnel.
«It will be very significant — it's going to be focused
on middle - income
tax cuts, simplification, and making the
business tax competitive with the rest of the world,» he told CNBC.
Americans want to see
tax cuts turn into a pay raise, but
on Main Street most small -
business owners don't plan to increase employee wages.
The large and accelerating rates of incorporation happened because of the weird interaction of two different populist instincts: (1) Even
tax -
cutting governments were reluctant to reduce personal income
taxes on the top tier of income - earners, for fear of being accused of delivering «a
tax cut to the richest Canadians;» (2) Just about every government from Jean Chrétien's onward was eager to
cut small -
business tax rates, because this seemed to be a handy spur to the plucky spirit of the theoretically job - creating mom - and - pop entrepreneurial class.
That message orchestration starts in Stouffville, Ont., where he was reportedly set announce a small
business tax cut shortly before noon, effectively returning to a 2015 election promise then failed to deliver
on in the government's first two budgets.
Only about three percent of small -
business owners will be affected by the President's plan to let the Bush
tax cuts expire
on the highest income earners.
There are three big ways the bill
cuts taxes on businesses.
Knowing that if a compromise isn't reached between Speaker Boehner and President Obama, the result is a likely recession, should small -
business groups back Boehner's insistence that the Bush
tax cuts be preserved for everyone or should they acquiesce to the President's call for higher
tax rates
on people earning more than $ 200,000 a year?
Most small -
business advocacy groups believe the studies that show that raising
taxes on small -
business owners earning more than $ 200,000 a year will cause their companies to
cut back
on capital investment and hiring.
The president offered insight
on how extending the
tax cuts for the middle class could help keep our
businesses growing without hindering the purchasing power of American consumers.
Of course they're excited: The plan offers big
tax cuts on business profits.
Early in his term, he pushed through a $ 1.6 billion
tax cut for
businesses, offset by $ 1.4 billion in
tax increases
on individuals — including
taxing pensions and Social Security benefits.
Companies selling capital goods will experience reduced demand from small -
business owners who tend to
cut back
on capital investment when their
taxes rise.
A Republican
tax -
cut plan due to be unveiled
on Wednesday is expected to call for a new rate for «pass - through»
businesses of about 25 percent.
Consumer and
business sentiment about the economy has risen sharply based
on the notion the incoming administration of Republican President - elect Donald Trump and a Republican - controlled Congress would enact big
tax cuts and infrastructure spending and loosen regulations, which would boost spending and investments.
And the government
cut taxes on a selection of retail products including pasta and stoves — all good for domestic
business.
When the state
cut back educational and health spending in order to minimize
taxes, ostensibly to attract
business, global companies pulled out
on...
In recent weeks it has hit back with its own threats, raising concerns among farmers and
businesses in the United States that the escalating dispute could be a drag
on the economy and blunt the effect of the
tax cuts Mr. Trump signed into law in December.
Many small
businesses cut down
on expenses by making wise purchasing decisions, but only a very small number of
businesses take full advantage of all the options available to them with regard to working out all the
taxes involved in their
business.
The following commentary also appears
on The Globe and Mailâ $ ™ s Global Exchange blog: What Obamaâ $ ™ s Corporate
Tax Proposal Means for Canada Last week, there was much consternation in Canadaâ $ ™ s business press that some modest reversals of provincial corporate tax cuts and President Obamaâ $ ™ s proposed corporate tax changes could erode our competitivene
Tax Proposal Means for Canada Last week, there was much consternation in Canadaâ $ ™ s
business press that some modest reversals of provincial corporate
tax cuts and President Obamaâ $ ™ s proposed corporate tax changes could erode our competitivene
tax cuts and President Obamaâ $ ™ s proposed corporate
tax changes could erode our competitivene
tax changes could erode our competitiveness.
«
On its own, the final
cut to corporate income
tax rates, from 16.5 % to 15 %, would result in $ 30 - billion in additional
business investment and 102,500 new jobs over a seven - year period, the paper estimates.»
â $ œCutting Ontarioâ $ ™ s
Taxes on New
Business Investment in Halfâ $ (page 25) purports to show that corporate
tax cuts are required to get the provinceâ $ ™ s â $ œMarginal Effective Tax Rateâ $ below the US and OECD averag
tax cuts are required to get the provinceâ $ ™ s â $ œMarginal Effective
Tax Rateâ $ below the US and OECD averag
Tax Rateâ $ below the US and OECD averages.
Instead of working
on the demand side, attention has turned to stimulating
business through
tax cuts, entrepreneurship and innovation while phasing out excess capacity resulting from the previous stimulus.
Instead, they offer piece meal «nickel and dime» strategies including
cutting small
business taxes (not helpful)-RRB-, providing renovation
tax credits in the future (definitely not helpful), extending accelerated depreciation
on business investment (hasn't helped so far), and new incentives for research and innovation (very expensive incentives already exist).
Moreover, to pay this higher
tax bill the small
business will have to first generate additional profit, perhaps by
cutting back
on external labour.
The plan the authors propose —
cutting the
business tax rate to 15 percent, allowing full expensing, offering a reduced rate
on repatriation, and increasing infrastructure spending — could cost $ 5.5 trillion by our estimates.
The framework proposes a number of specific changes including: consolidating and reducing individual income
tax rates to 10, 25, and 35 percent; doubling the standard deduction; cutting the business tax rate to 15 percent on both corporations and pass - through businesses; repealing the Alternative Minimum Tax (AMT) and estate tax; repealing the 3.8 percent investment surtax from the Affordable Care Act («Obamacare»); moving to a territorial tax system; and imposing a one - time tax on money held overse
tax rates to 10, 25, and 35 percent; doubling the standard deduction;
cutting the
business tax rate to 15 percent on both corporations and pass - through businesses; repealing the Alternative Minimum Tax (AMT) and estate tax; repealing the 3.8 percent investment surtax from the Affordable Care Act («Obamacare»); moving to a territorial tax system; and imposing a one - time tax on money held overse
tax rate to 15 percent
on both corporations and pass - through
businesses; repealing the Alternative Minimum
Tax (AMT) and estate tax; repealing the 3.8 percent investment surtax from the Affordable Care Act («Obamacare»); moving to a territorial tax system; and imposing a one - time tax on money held overse
Tax (AMT) and estate
tax; repealing the 3.8 percent investment surtax from the Affordable Care Act («Obamacare»); moving to a territorial tax system; and imposing a one - time tax on money held overse
tax; repealing the 3.8 percent investment surtax from the Affordable Care Act («Obamacare»); moving to a territorial
tax system; and imposing a one - time tax on money held overse
tax system; and imposing a one - time
tax on money held overse
tax on money held overseas.
All told, these three laws contain eight different small
business tax cuts, including the exclusion of up to 75 % capital gains
on key small
business investments, a
tax credit for the cost of health insurance for small
business employees, and new
tax credits for hiring Americans who had been out of work for at least two months.
Economic Recovery
Tax Act (ERTA): Tax legislation enacted in 1981 (and often referred to as the «Reagan tax cut») that significantly reduced income taxes on individuals and business
Tax Act (ERTA):
Tax legislation enacted in 1981 (and often referred to as the «Reagan tax cut») that significantly reduced income taxes on individuals and business
Tax legislation enacted in 1981 (and often referred to as the «Reagan
tax cut») that significantly reduced income taxes on individuals and business
tax cut») that significantly reduced income
taxes on individuals and
businesses.
Many
business leaders who were once critical of the president now say they are net positive
on Trump after the
tax cuts.
Within the
business cuts, the legislation would reduce the corporate
tax rate from 35 to 20 percent ($ 1.5 trillion), allow companies to fully deduct the cost of
business investments in the year they are made through 2022 ($ 25 billion), and limit the top rate
on certain pass - through
business income paid
on the individual side to 25 percent ($ 448 billion).
President Trump was successful in pushing through the
business tax cuts, but Cohn didn't want to be tainted by protectionist policies that could cause a bear market
on Wall Street and an economic slowdown.
Most of the people who will benefit from a
tax cut on pass - through income are not small
business owners.
WASHINGTON — After making good
on tax cuts and regulatory rollbacks that
business leaders wanted, President Trump has turned to a part of his economic agenda that many of them feared: tariffs.
However,
tax cuts and deregulation for
businesses should put upward pressure
on wages and net more take - home pay for employees AKA prospective home buyers.
The final legislation released by Republicans
on Friday follows the broad strokes of the previous House and Senate bills, providing deep and longstanding
tax cuts for
businesses, including a corporate
tax rate of 21 percent, down from the current 35 percent.