President Donald Trump is promising the head of SpaceX, Tesla and other innovative companies that taxes and regulation on companies in the U.S. will be cut “massively.”
Elon Musk, the chairman and CEO of the Hawthorne-based rocket and spacecraft manufacturer SpaceX, was among 12 business leaders meeting with President Donald Trump Monday at the White House.
Trump told the group “We are going to be cutting taxes massively for both the middle class and for companies. And that’s massively. We’re trying to get it down to anywhere from 15 to 20 percent.”
Trump also pledged to cut regulation massively.
“We think we can cut regulations by 75 percent,” Trump said. Maybe more.”
“Now we are going to have regulation and it will be just as strong and just as good and just as protective of the people as the regulation we have right now. The problem with the regulation you have right now is that you can’t do anything.”
Trump said he would try to meet with business leaders quarterly.
—City News Service