Former President Donald Trump said Thursday during a meeting with top CEOs in Washington, DC, that he wanted to slash the corporate tax rate to 20% — hours after discussing trade and other policies with Republicans on Capitol Hill.
The presumptive 2024 Republican nominee held a private meeting with 80 executives to pitch the rate reduction, CNBC reported. A source familiar with the discussion told the outlet that Trump, 77, pledged to trim the corporate tax from 21% — and return to economic policies that were popular in his first term if he is elected to a second, including tax cuts.
“We’re going to give you more of the same for the next four years,” one of the sources said of the 45th president’s proposed agenda. At one point, Trump reportedly took a direct shot at his opponent, President Biden, saying: “We need a president who is at the top of his game and let’s face it, this president is not at the top of his game.”
Lease and Tax Policies
In addition to discussing corporate tax cuts, Trump also floated eliminating all taxes on worker tips, a proposal that he said thrilled employees in the service and hospitality sectors. A source familiar with the discussion told CNBC that Trump pledged to CEOs like Bank of America’s Brian Moynihan that he was also looking to cut all taxes for tip workers.
The CEOs — including Jamie Dimon of JPMorgan Chase, Brian Moynihan of Bank of America, Jane Fraser of Citigroup, and Tim Cook of Apple — reportedly burst out laughing when Trump relayed the purported enthusiasm for his plan. Staten Island GOP Rep. Nicole Malliotakis told The Post earlier Thursday the former president had also mentioned eliminating tip taxes during his meeting with House Republicans on Capitol Hill.
Trump spoke to the CEOs for about an hour after current White House chief of staff Jeff Zients had talked with the group during another private session, a source told CNBC. The 80 or so corporate leaders included JPMorgan Chase CEO Jamie Dimon.
Biden, 81, called for a 28% corporate tax rate during his State of the Union address in March — and has ragged on Trump’s signature Tax Cuts and Jobs Act, which will expire at the end of next year. “Look, I’m a capitalist,” the president told Congress. “If you want to make a million bucks — great! Just pay your fair share in taxes.”
Thursday’s meeting underscores the extent to which Trump has mended broken relationships with titans of the business world — as well as Silicon Valley — after many denounced him in the wake of the Jan. 6, 2021, Capitol riot.
