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The Republican Party may make Donald Trump its candidate for the presidential election for the third time. Its formal announcement is expected next month. Earlier, Trump was the President of America from 2016 to 2020.
Trump stressed the need to cut corporate taxes in a private meeting in Washington on June 13. CEOs of about 10 companies were present in this meeting.
Former US President Donald Trump has promised to reduce taxes on companies. He has said that he will reduce corporate tax to 20 percent. He had also reduced taxes on companies during his first term as President. Trump may be the Republican Party’s candidate in the US presidential election to be held this year. Its formal announcement is expected next month. Earlier, Trump has been the President of America from 2016 to 2020. He contested to become President again in 2020. But, he lost the contest to Democratic Party candidate Joe Biden.
Currently, America has a 21% corporate tax rate
Donald Trump stressed the need for a reduction in corporate tax in a private meeting in Washington on June 13. CEOs of about 10 companies were present in this meeting. These included Jamie Dimon, head of JP Morgan Chase & Co. and Tim Cook of Apple. Currently, corporate tax in America is 21 percent. Even a small reduction in tax will increase the profits of big American companies by billions of dollars every year.
A promise was also made to make the 2017 tax law permanent
Two sources said that Trump believes that 20 percent tax is right. He has also talked about making the 2017 tax law permanent. It has a provision for tax cuts for individual taxpayers and small companies. This law will expire next year. Trump promised the CEOs of companies that if he becomes president for the second time, he will simplify the rules.
The court has convicted Trump in one case
Trump also expressed his opinion about the American economy. He said many things about the American economy in the quarterly meeting of CEOs organized by Business Roundtable. Earlier, he had also expressed his opinion on a program. Trump himself is a big industrialist. His business group includes many companies. However, he is the first American president to be found guilty by the court on many charges. However, Trump has declared himself innocent. Presidential elections are going to be held in America later this year.
