Tax & Regulatory Reform are America’s CEO’s Top Priorities
Most CEO’s of large US companies see tax and regulatory reform as their Top policy priorities, with only 3% naming healthcare reform, according to a survey released Tuesday.
The Business Roundtable Quarterly survey showed broad hopefulness about US economic prospects in the wake of the Republican sweep of the November elections.
“Our CEOs are very optimistic that our environment in Washington can be a tailwind to an already positive environment we’ve seen these last months,” the group’s CEO, said.
The survey’s overall index jumped 19.1 points to 93.3 amid large increases in the number of respondents who see their companies boosting hiring and capital spending in the next 6 months, as well as expecting higher sales.
Asked what single policy would create “the most pro-growth environment for your business,” 52% of CEO’s said tax reform and 27% said regulatory reform, according to the survey of 141 CEO’s by the Washington business lobby group.
Increased infrastructure investment was tagged by 15% of respondents, 5X the number identifying healthcare reform, which is the center of debate in Washington since Republicans introduced a bill to repeal and replace Barack Obamacare.
Optimism that US President Donald Trump will push through with promises of tax reform and other growth policies has boosted the US stock market to successive records in recent weeks.
Some observers have raised the possibility higher interest rates could blunt growth, with the Fed expected to raise the benchmark lending rate Wednesday.
But JPMorgan Chase (NYSE:JPM) CEO Jamie Dimon, who chairs the Roundtable, said the Fed was responding to improving conditions so a rate increase does not hearken trouble for the US.
The Fed’s move “is a sign of strength, not a sign of weakness,” Mr. Dimon said.
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