In a meeting with airline executives Thursday morning, President Donald Trump announced that “phenomenal” tax reforms loom in America’s near future.
Trump made the announcement as part of a meeting with U.S. aviation leaders at the White House to discuss red tape and industry regulations, CNBC reported. The meeting’s agenda included domestic job creation and Trump’s perception of the airline industry’s internal structure, according to U.S. News and World Report.
In speaking with reporters, he mentioned removing regulations for American businesses and lowering the overall tax burden on American business.
“We’re way ahead of schedule, I believe,” he said, “and we’re going to announce something, I would say over the next two or three weeks, that will be phenomenal in terms of tax.”
So we can expect the announcement around the first week of March, if not before.
We should note that it wasn’t immediately clear whether Trump was referring to a broad statement regarding the U.S. tax system or something more specific to the airline industry. Trump has focused on taxes and regulations in the past and has indicated that his administration is focused on “rolling back burdensome regulations” and “lowering the overall tax burden on American businesses big-league.”
While Trump hasn’t revealed what he has in mind for tax cuts, he has mentioned a drastic cut in personal taxes and levying a 20 percent border tax on goods made in Mexico and shipped into the U.S.
— Fox News (@FoxNews) February 9, 2017
Tax reforms in the future would be great news. If things are done right, this could be the stimulus our economy has needed for some time.
Trump ran on the promise of cutting taxes, and it looks like he’s trying to make good on his word.
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