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Automakers Hail Trump Tax Cut Pitch – But Question His Overall Results After 100 Days

A "C" for effort?

by on Apr.27, 2017

President Donald Trump gave himself an A for how he handled policy decisions earlier, but what grade is the auto industry giving him?

With the three domestic automakers each reporting first-quarter earnings this week, President Donald Trump’s tax cut proposal – which would see the top corporate rate drop by more than half, to 15% – clearly resonates in the Motor City.

General Motors said in a statement that it was “encouraged” by efforts to “modernize our tax code,” while crosstown rival Ford saw the White House announcement as “a positive step towards much needed tax reform.”

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It’s not the first time industry leaders have hailed a Trump Administration move, automakers giving thumbs up when the president ordered the EPA to reopen the midterm review of federal mileage standards. But the president has also been harshly faulted on a number of issues, notably a proposed import tax and the threatened elimination of the North American Free Trade Agreement. (more…)