Trump tells business leaders he wants to cut regulations by 75% or 'maybe more'

[WestVirginiaRebel]

CNBC:

President Donald Trump told business leaders on Monday he believes he can cut regulations by 75 percent or "maybe more."

 

At the White House with 10 senior executives, he repeated his campaign pledges to roll back corporate rules, arguing that they have "gotten out of control." A White House spokesman did not immediately respond to a request to elaborate on which rules Trump will target or how the 75 percent was calculated.

 

"We're going to be cutting regulation massively," but the rules will be "just as protective of the people," Trump told reporters at the meeting that included Tesla Motors CEO Elon Musk and Under Armour CEO Kevin Plank.

 

Democrats and interest groups have expressed concern about Trump's plans to roll back Obama administration environmental protections and pull out of the landmark Paris climate accords, among other regulatory pledges.

 

In the wide-ranging statement Monday, Trump also reiterated campaign promises to cut taxes for businesses, saying he aims to get the business rate "down to anywhere from 15 to 20 percent" from the current 35 percent. He also said he wants to reward companies that manufacture in the U.S. and impose border taxes on products that American companies make abroad.

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