Former President Donald Trump was reelected for a second term and vowed to pass the law. business friendly policiesincluding significant corporate tax cuts, increased tariffs, and rapid deregulation.
he says he will Reduce corporate tax rate by 6%which will increase from the current 21% to 15%, leading to improved profitability for companies. Such a large tax cut would be the sixth largest tax cut since 1940, according to an analysis by the Tax Foundation.
During the presidential campaign, Mr. Trump supported deregulation of corporations and was able to win support from some of the nation’s most prominent business leaders. Here’s how CEOs, nonprofit leaders and business groups are reacting to President Trump’s victory.
Elon Musk
Elon Musk Who campaigned for Trump?poured millions of dollars into helping Trump re-elect, which Trump mentioned in his victory speech and praised the election result in a statement on Wednesday.
“The American people tonight gave @realDonaldTrump a clear mandate for change,” he said.
Marc Andreessen
Marc Andreessen, co-founder and general partner of Silicon Valley venture capital firm Andreessen Horowitz, said that “America is a nation of architects, and soon we will be able to build freely.” I agreed with the post.
“It’s time to build,” Andreessen posted.
jeff bezos
Amazon CEO Jeff Bezos was also quick to praise Trump’s victory.
“We sincerely congratulate our 45th President and now our 47th President on their extraordinary political comeback and decisive victory. No nation has a greater opportunity to lead and unite the America we all love. I wish @realDonaldTrump success in doing so,” he wrote on Wednesday.
JP Morgan Chase
JPMorgan Chase, the nation’s largest bank by assets, issued a statement to employees in response to Trump’s election victory. The bank’s management committee includes: CEO Jamie Dimoncongratulated Trump and Vice President-elect J.D. Vance. Dimon said now is the time to “start working to unite our country and focus on the pressing economic and global issues at hand.”
The financial giant added, “We have a long history of working across the political spectrum and look forward to engaging with the new administration and elected officials of both parties.”
National Restaurant Association
“President-elect Donald J. Trump, Vice President-elect J.D. Vance, and newly elected U.S. senators and congressmen,” Michelle Colmo, president and CEO of the National Restaurant Association, said in a statement. I bless you.” “We look forward to working with legislators of both parties to advocate for policies that create an environment where restaurants can thrive as a cornerstone of our communities and economy.”
Colmo also weighed in on a Massachusetts ballot measure that would eliminate the tip credit, which allows employers to count workers’ tips toward the minimum wage.
“In Massachusetts, voters overwhelmingly supported tipped workers and restaurateurs by rejecting a misguided proposal to eliminate tip credits. It continues uninterrupted for tipped workers and restaurateurs who have been fighting for tipped wages,” Colmo said.
Alliance for American Manufacturing
Manufacturing industry groups issued hopeful statements following Trump’s victory.
“We are hopeful that American manufacturing jobs will continue to be a priority for the Trump-Vance administration in 2025 and beyond,” said AAM President Scott Paul. “It will continue to strategically apply tariffs, make smart investments in industry, innovation, and infrastructure, expand Buy America procurement policies and tax policies to encourage domestic manufacturing, and strengthen apprenticeship and worker training programs. means.”
Plan C
Plan C, a nonprofit organization that provides information on obtaining abortion pills in the United States, called Trump’s victory a “disaster” for reproductive rights, but said “abortion is here to stay.”
“A second Donald Trump administration would be a disaster for reproductive justice,” the group said in a statement Wednesday. “While we expect the worst for abortion rights, abortion will survive no matter what.” I know that I will do it,” he said.
Plan C co-founder Elisa Wells said: “It’s horrifying to see another Trump administration, and we expect this one to be far worse for abortion seekers than the first. “I’m working on it,” he said. “But the abortion pill will remain. Community distribution networks and overseas providers will remain in place, and abortion pills will continue to flow into the country.”
National Women’s Law Center Activity Fund
The National Women’s Law Center (NWLC) Action Fund, a nonprofit organization focused on gender justice, called Trump’s victory “a dark day for democracy.”
The center urged its supporters to “remember that Donald Trump is not a king. He is not a dictator. He is an arm of our democratic government, our people, our institutions, And as long as society continues, he and his regime can remain in check.” Those in power refuse to succumb to his authoritarian tendencies. ”
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