If the U.S wants to tackle its ever-mounting debt, significant policy changes will be required, including the expiration of former President Donald Trump’s 2017 tax cuts, a billionaire hedge fund manager said last week. Jones said the differences between Trump and Biden come down to different economic priorities. Trump's policies, he said, favor short-term gains with the hope of "growing our way out" of economic hardship. Beyond allowing Trump's tax cuts to expire, his proposals included:Increasing the corporate tax rate to 25%. Jones said business leaders must take charge in addressing economic and social change.

Source: Forbes January 29, 2024 16:15 UTC