Trump Pushes Tax Cuts, Seeks Time on Economy

Trump Pushes Tax Cuts, Seeks Time on Economy

Business 1 May 2025 15:00

Former President Donald Trump said Wednesday that his administration needs more time to revive the U.S. economy, calling current economic conditions "the Biden economy." Speaking at a White House event on “Investing in America,” Trump pointed to a 0.3% GDP decline last quarter, the first since 2022, and argued the downturn reflects the previous administration’s impact, CE Report quotes Anadolu Agency

He proposed slashing corporate taxes from 21% to 15% for companies manufacturing in the U.S., especially in sectors like semiconductor production. Trump also promised what he described as the “largest tax cuts in American history” in the coming weeks.

The event included business leaders such as Chobani CEO Hamdi Ulukaya, who was recognized for the company’s $1.7 billion investment in U.S. operations.

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