Trump Plans to Cut Business Regulation by 75%

Todd Qiu

President Trump met with business executives in the White House to discuss the future of America’s economy. He told the businessmen, including Tesla CEO Elon Musk and Under Armour CEO Kevin Plank, that he intends to cut regulation significantly, by 75% or even more. This is one of the several steps the President has taken in order to achieve economic growth and return jobs back to America. Democrats argue that reducing regulation, including environmental regulation on businesses, can lead to a deterioration of the environment.

The President will also work towards renegotiating unfair trade deals such as NAFTA and pulling out of others, like the Trans-Pacific Partnership. He also aims to cut taxes by 15 – 20 percent for businesses and also cut taxes for our citizens in order to spur economic growth. Opponents of the cuts fear that these cuts will lead to an increase in debt. However, Trump’s administration maintains that the economic growth from the cuts will outweigh the loss of tax revenue.

The President has also been negotiating with companies in order to keep jobs in the U.S. Before he was elected, Ford CEO Mark Fields decided to cancel new factory plans in Mexico and expand one of the factories already on American soil, adding 700 more permanent jobs in the process. Fields stated that he believes in Trump’s pro-growth policies. Additionally, Trump negotiated with Carrier which agreed to keep some jobs in Indiana instead of moving them to Mexico, in exchange for incentives.