President Donald Trump met with about 20 CEOs, including Tesla CEO Elon Musk and IBM CEO Ginni Rometty, on Tuesday in a strategic and policy forum. The executives spoke with five cabinet secretaries about issues like infrastructure, tax reform and job creation. The meeting occurs as Congress is on a two-week break. The White House confirmed the meetings but did not immediately disclose all the participants.
“We’re going to reduce taxes, we’re going to eliminate wasteful regulations … we’re doing a major streamlining” of the income tax system, President Trump told reporters afterwards, according to Fox News.
Trump wants to craft an up to $1 trillion package of private and public infrastructure investments over 10 years to fix bridges, improve the electrical grid and broadband internet, modernize airports and potentially rebuild hospitals for veterans, reports Reuters. The wireless industry hopes funds for the broadband rollout are included, Inside Towers reported.
Trump also wants to cut federal regulations, reduce corporate income tax and add new taxes to incentivize companies to keep or move production to the United States. He has held numerous sessions with CEOs since taking office.
Investment management firm BlackRock CEO Larry Fink backed calls for private investment to rebuild U.S. infrastructure in a letter to shareholders on Monday. The Trump administration plans to unveil the infrastructure plan as soon as May, according to Reuters.
April 12, 2017