On Wednesday, President Donald Trump met with eight retail chief executives to discuss tax reform and infrastructure improvements. The meeting included:
The group is also set to meet with the heads of the two tax-writing congressional committees: Kevin Brady and Senator Orrin Hatch, chairman of the House Ways and Means Committee and chairman of the Senate Finance Committee, respectively.
These retailers opposed the border adjustment tax, a Republican-backed proposal that would trim corporate income tax to 20% from 35%, exclude export revenue from taxable income, and impose a 20% tax on imports. Retailers, as well as oil refiners and automakers, believe the border tax would “outweigh the benefit of a lower headline corporate tax,” according to Reuters. Critics of the tax also say it could lead to higher prices for consumers, especially on imported goods.
After the meeting was over, President Trump told reporters that tax reform is a “great way” to improve the U.S. economy. “My administration remains very focused on economic growth issues,” the president continued.
And on behalf of the CEOs, William Rhodes, chief executive of Autozone, said "We stressed the importance of taking a thoughtful approach to tax reform for both individuals and corporations…the President understands we support pro-growth policies that we believe will lead to greater domestic investment." He also highlighted the 42 million jobs that the retail industry provides.
This summit is similar to President Trump’s meeting with top tech leaders back in December, where he discussed topics like jobs, immigration encryption, and regulation with CEOs of Silicon Valley’s biggest corporations.
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It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
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On Wednesday, President Donald Trump met with eight retail chief executives to discuss tax reform and infrastructure improvements. The meeting included:
The group is also set to meet with the heads of the two tax-writing congressional committees: Kevin Brady and Senator Orrin Hatch, chairman of the House Ways and Means Committee and chairman of the Senate Finance Committee, respectively.
These retailers opposed the border adjustment tax, a Republican-backed proposal that would trim corporate income tax to 20% from 35%, exclude export revenue from taxable income, and impose a 20% tax on imports. Retailers, as well as oil refiners and automakers, believe the border tax would “outweigh the benefit of a lower headline corporate tax,” according to Reuters. Critics of the tax also say it could lead to higher prices for consumers, especially on imported goods.
After the meeting was over, President Trump told reporters that tax reform is a “great way” to improve the U.S. economy. “My administration remains very focused on economic growth issues,” the president continued.
And on behalf of the CEOs, William Rhodes, chief executive of Autozone, said "We stressed the importance of taking a thoughtful approach to tax reform for both individuals and corporations…the President understands we support pro-growth policies that we believe will lead to greater domestic investment." He also highlighted the 42 million jobs that the retail industry provides.
This summit is similar to President Trump’s meeting with top tech leaders back in December, where he discussed topics like jobs, immigration encryption, and regulation with CEOs of Silicon Valley’s biggest corporations.
Stocks that Aren't in the News…Yet
You are invited to download the full, up-to-the-minute list of 220 Zacks Rank #1 "Strong Buys" free of charge. Many of these companies are almost unheard of by the general public and just starting to get noticed by Wall Street. They have been pinpointed by the Zacks system that nearly tripled the market from 1988 through 2015, with a stellar average gain of +26% per year. See these high-potential stocks now>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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