White House will focus on future growth incentives

White House will focus on future growth incentives

The administration wants to reduce taxes on wages and investments in a business, as well as reduce regulatory pressure on the business

Larry Cadlow, White House Economic Advisor on Economics, said Friday that the Trump administration will focus on measures to stimulate growth and remove business barriers, while Congress is working on the next large-scale package of economic measures to combat coronavirus.

Among the measures that, according to Cadlow, the White House would like to see in the next package of economic assistance is the reduction of taxes on wages and investments in the business, as well as the introduction of measures to protect employers from responsibility to help small businesses.

“We have our own set of requests, and we are likely to get together in a few weeks and resume discussions, but I believe that the emphasis will be on incentives for future growth [of the economy],” Cadlow said in an interview with Fox News.

Cadlow noted that he would like to remove regulatory restrictions from US companies. The presidential adviser added that over the next 20-30 days the US will be put in a “pause mode” in anticipation of the next tranche of financial assistance.

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“Right now, we are all pausing and trying to figure out our positions,” Cadlow said.