President Donald Trump announced today that Americans can look forward to hearing about his new tax plan within the next few weeks. "Lowering the overall tax burden on American business is big league,” said Trump today while meeting with airline execs. He added, ... that's coming along very well. We're way ahead of schedule, I believe. And we're going to announce something I would say over the next two or three weeks that will be phenomenal in terms of tax."
Afterwards, White House spokesman Sean Spicer told reporters at the daily press briefing that the president understands that Americans need tax relief and that the country needs "fundamental comprehensive tax reform." Spicer said that Trump wants to offer a tax plan to develop jobs domestically while incentivizing businesses to locate in the country and grow.
After Trump's comments today, the 10-year Treasury yield moved up slightly, while the US dollar jumped on Trump's announcement. The Standard & Poor’s index moved about 4 points.
Trump meeting with US airline execs
Around the meeting with airline executives, Trump said the current government contract for a new air traffic control system is not good and is "obsolete." He also said that the head of the Federal Aviation Administration should be a pilot. American carriers are concerned about ongoing trade agreements with foreign carriers. Trump has vowed to renegotiate or scrap trade deals he sees as unfair between the United States and other countries. The focus of some US carriers is Norwegian Airlines, which offers discount flights to Europe. The foreign carrier has been criticized for paying pilots less than American carriers do. The Trump administration has not addressed the American carriers' competition concerns.
Delta Air Lines CEO Ed Bastian said today that his company will hire 25,000 people over the next five years with the support of "a level playing field globally." In a statement, Bastian said, "We had a positive discussion about many of the major issues facing U.S. travelers, airline employees and the aviation industry, which is a vital economic engine for America. I look forward to working with President Trump, Secretary Chao, Secretary Tillerson and other members of the administration on issues important to Delta, our employees and our customers."
United Airlines CEO Oscar Munoz said the company was committed to protecting and creating American jobs. In statements, Jetblue and Alaska Airlines also said that they had a good meeting with Trump.