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THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

Politics

Politics

Biden aides and Trump will discuss contrasting economic views with senior US business executives.

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On Thursday, Republican presidential contender Donald Trump and critical aides to Democratic President Joe Biden will spell out their starkly different economic perspectives in a series of discussions with America’s top business leaders.
According to two sources familiar with the event’s organization, Trump will address the Business Roundtable at its offices in Washington, D.C., at around 11 a.m. local time (1500 GMT). According to these sources, the organization of over 200 CEOs will also host Jeff Zients, Biden’s White House chief of staff, earlier in the morning.

Meanwhile, Treasury Secretary Janet Yellen will speak to the Economic Club of New York at 12:30 p.m. about “expanding the U.S. economy’s productive capacity,” according to a Treasury Department release.
It needed to be clarified what message Trump or Zients planned to send to the Business Roundtable, which included Wall Street giants such as JP Morgan CEO Jamie Dimon and Blackstone .Members include Steve Schwarzman, the CEO.

Bank of America  CEO Brian Moynihan and Citigroup. According to three sources who asked to remain anonymous to discuss the secret meeting, Chief Executive Jane Fraser is among those in attendance.
Conservative commentator Larry Kudlow, who served as Trump’s chief economic adviser from 2017 to 2021, will interview the former president at the event, according to one source.
Biden and Trump, who are in a tight race five months before the November 5 election, disagree on a number of critical economic matters.
Biden’s economic ideas include a strong emphasis on environmental protection. His administration, for example, has established a number of incentives for the purchase and usage of electric vehicles. In January, it halted approvals for applications to export liquefied natural gas from new projects.
While lacking in specifics, Trump has repeatedly denounced efforts aimed at hastening the United States’ transition away from fossil fuels and has asserted that electric vehicles do not work.
While in office, Trump reduced the maximum corporation tax rate from 35% to 21 percent. Biden has advocated raising the top tax rate for significant firms to 28%, which is lower than historical averages but higher than the current number.

Both men have often utilized tariffs to safeguard American business. However, Trump’s proposals, which include imposing a 10% levy on all imports, are significantly more aggressive than those of his opponent.
“President Trump’s America First economic program will deliver middle-class tax cuts, record-setting regulation cuts, fair trade, abundant energy, low inflation, better wages, and a restoration of the rule of law in America,” Karoline Leavitt, the spokesperson for the Trump campaign,
The White House declined to comment on the contents of Zients’ address. Biden is in Italy for the G7 conference, where he plans to sign a new security deal with Ukraine.
While in Washington, Trump plans to meet with Republicans from the Senate and House of Representatives at places near the Capitol. These meetings are likely to focus on Trump’s prospective second-term policy initiatives.
During election seasons, the Business Roundtable regularly invites significant party presidential candidates to speak at the gathering. Nonetheless, Trump’s appearance demonstrates how some in the business sector have warmed to the former president after many corporations distanced themselves from him and his followers following the January 6, 2021, attack on the United States Capitol.

Biden's Campaign Funds Surpass Trump's Ahead of Key

Breaking Down Trump’s And Biden’s Economic Policies | Bankrate

In the weeks following the attack, numerous big firms stated that they would never again donate to federal legislators who questioned the legitimacy of the 2020 election, which Biden won, though many have subsequently appeared to discreetly withdraw that vow.
Business heavyweights such as Schwarzman, the CEO of Blackstone, had opposed Trump, only to express their support for him this election cycle when he convincingly defeated his competitors in the Republican presidential primary race earlier this year.

 


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