Former President Donald Trump met with over 80 CEOs in Washington with the promise of tax cuts and a reduction in business regulations if he is reelected in November. He stated his intention to cut income taxes and bring back economic policies from his first term, including lowering the federal corporate tax rate from 21% to 20%. Trump also discussed a recent proposal to eliminate taxes on worker tips, which received positive feedback from the CEOs in attendance, including Apple CEO Tim Cook and JPMorgan Chase CEO Jamie Dimon. The meeting, organized by the Business Roundtable, lasted about an hour, and Trump assured the company leaders that they can expect more of the same if he is elected for a second term.
President Joe Biden’s chief of staff Jeff Zients also addressed the group earlier in the day before Trump’s appearance, though details of his remarks were not provided. The meeting, held with CNBC sources granted anonymity to freely discuss the private gathering, aimed to repair relations between Trump and the CEOs after some distanced themselves from the former president following his comments on events like the Charlottesville protests and the Capitol Hill riot. Trump criticized Biden’s performance, stating that the country needs a president who is at the top of their game, insinuating that Biden falls short of that standard. While a spokesperson for Cook declined to comment on his attendance at the meeting, it was reported that Trump also discussed the idea of implementing an “all tariff policy” that could potentially eliminate income taxes.
Representatives for the Trump campaign and the Business Roundtable did not respond to requests for comment prior to the meeting. The gathering served as an opportunity for Trump to reassure the CEOs of his commitment to policies that benefit businesses, including tax cuts and reduced regulations. The CEOs in attendance, who included prominent figures such as Citigroup CEO Jane Fraser and Bank of America CEO Brian Moynihan, listened to Trump’s proposals for economic growth with interest. Trump’s focus on reducing taxes and boosting the economy aligns with his previous policies during his first term, which led to a contentious relationship with some business leaders.
Despite tensions in the past, Trump’s meeting with the CEOs aimed to emphasize his dedication to providing a favorable environment for businesses if he is reelected in November. The CEOs he met with appeared to respond positively to his proposals, with discussions of tax cuts and regulatory changes being well-received. Trump’s message to the company leaders at the Business Roundtable’s quarterly meeting was clear – under his leadership, they can expect continuity in economic policies that prioritize growth and prosperity. Trump’s bold promises of tax cuts and deregulation resonated with the CEOs in attendance, offering a glimpse into what the future might hold for businesses under his presidency.
