Donald Trump aims to entice CEOs with lucrative tax cuts while Biden wants to win them over by vowing to maintain stability
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Former President Donald Trump wants to further cut the corporate tax rate, while President Joe Biden's chief of staff emphasized the importance of global alliances to CEOs. Trump expressed his desire to cut the corporate tax rate to 20%, focusing on taxes, inflation, and the need for more oil production. Biden's chief of staff highlighted America's global reputation and independent institutions as fostering trust worldwide. The Business Roundtable, representing over 200 CEOs, is campaigning to preserve the tax breaks for businesses that Trump signed into law in 2017. Biden aims to raise the corporate tax rate to 28% and introduce higher taxes on the wealthy. The 2017 tax cuts are set to expire after 2025, leading to a showdown between Democrats and Republicans on how to rewrite the tax code. Business leaders argue that lower taxes make them more competitive globally and enable them to hire more workers and invest in new technologies. Biden's budget proposal would raise corporate taxes by nearly $2.2 trillion over 10 years, with more than half of the revenue coming from resetting the corporate tax rate at 28%. Trump has argued that higher corporate taxes would lead to the destruction of jobs and the country.



https://fortune.com/2024/06/13/donald-trump-aims-to-entice-ceos-biden-stability/