Delta Air Lines CEO Ed Bastian praised President Donald Trump's tax reform plan, in advance of Congress this week taking its first legislative steps on the matter.
Trump has proposed a plan to slash taxes, calling for a reduction of the corporate tax rate to 20 percent from 35 percent. The plan also aims to simplify and cut taxes for the middle class by doubling the standard deduction.
The administration's plan also calls for a shift to a system for multinational corporations that in theory would not tax companies on overseas earnings -- but Republicans plan to impose a tax on foreign profits, and the new system would include a one-time repatriation tax to encourage companies to bring offshore profits back to the United States, according to the New York Times.
Bastian in a written statement called the tax reform framework “a positive first step that will lead to economic growth and job creation.”
“We look forward to seeing tax reform move forward for the benefit of all Americans,” Bastian said.
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