Trump to Discuss His Pro-Business Agenda at D.C. Business Roundtable
Former President Donald Trump will address some of the nation’s most powerful corporate leaders next week when he participates in a moderated discussion at the Business Roundtable’s quarterly meeting in Washington.
The Business Roundtable, an association representing more than 200 chief executives of major U.S. companies, confirmed Trump had accepted an invitation to speak at the closed-door moderated event on June 13, according to NBC News.
White House Chief of Staff Jeff Zients will address the CEOs as President Joe Biden will be traveling overseas for a Group of 7 summit, the outlet reported.
For Trump, who is campaigning for a return to the White House, the meeting presents an opportunity to make his case to business leaders about how he would handle economic issues and policy.
In a news release about the Business Roundtable on Wednesday, the former president’s campaign touted his accomplishments and said he would speak about “how he will restore prosperity to the American economy, like he did during his first term.”
President Donald J. Trump to Participate in a Moderated Discussion at Business Roundtable’s Quarterly Meeting in Washington, D.C. | News | Donald J. Trump https://t.co/UH3WlRC6Kk
— Tom McGovern (@jefe_viejo) June 5, 2024
“President Trump built the strongest economy in the world once before, and he stands prepared to do it yet again,” it said. “Under the Trump Administration, unemployment rates for African Americans, Hispanic Americans, and Veterans all reached record lows.
“Additionally, President Trump kept his promise to American workers and created more than 1.2 million manufacturing and construction jobs. Every American was better off just four years ago when inflation was 1.4% because of President Trump’s America First policies.”
According to Gene Marks, the founder of a small-business consulting firm, Americans should “expect big changes for small businesses” if Trump becomes president.
A major priority of a second Trump presidency would likely be addressing the expiration dates on several key provisions in the 2017 Tax Cuts and Jobs Act, one of the signature achievements of Trump’s first term, Marks wrote in an opinion piece for The Hill.
Among the measures set to phase out in the next couple of years is the qualified business income deduction for S-corporations and partnerships.
This tax break has proved very popular with small business owners and entrepreneurs since taking effect.
Marks wrote that Trump is expected to push for extending, if not making permanent, this deduction as well as other corporate and individual tax cut provisions from the 2017 overhaul. The presumptive GOP nominee has consistently championed the legislation as fueling economic growth and job creation.
Businesses could see significant regulatory relief from federal agencies that have increasingly tightened oversight in recent years.
By appointing new leaders as terms expire at bodies such as the Federal Trade Commission, Occupational Safety and Health Administration and National Labor Relations Board, Trump’s administration would have an opportunity to unwind policies viewed as overly burdensome by many companies.
Trump nominees would be expected to move to roll back policies instituted by these agencies that made it easier for workers to unionize and eliminated certain non-compete employment contract clauses, according to Marks.
For many companies struggling with inflation and high labor costs, that could provide meaningful breathing room.
While Trump’s proposed tariffs on countries such as China might have some more pushback from manufacturers and retailers heavily reliant on global supply chains, producers of domestic raw materials could benefit from limiting foreign competition.
While he applied some caveats, Marks indicated his overall expectation is that things would significantly improve for small businesses under Trump.
After enduring the pandemic, inflation, and a tidal wave of new workplace rules, businesses can finally look for calmer waters and clearer skies under Trump’s pro-business agenda.
It’s a chance for them to focus on building the economy, take risks, and invest more into their businesses without being bogged down by bureaucratic overreach.
Many small business owners are probably counting the days.
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