Senator Perdue speaks to business leaders at Yahoo Finance Summit
“My message to CEOs around the country: there is a new sheriff in town, he’s an outsider, he’s a business guy, and he’s listening to you.”
WASHINGTON, D.C. – Former Fortune 500 CEO U.S. Senator David Perdue (R-GA) today talked to CEOs and business leaders attending Yahoo Finances All Markets Summit about the impact President Donald J. Trump’s 100-day plan would have on the American economy.
Job 1: Grow The Economy: “If job one is to grow the economy, I believe we have to look at the reserve requirements for community banks and regional banks because that is stopping the free flow of new capital to small businesses. We know that small businesses are the engine for job creation right now in this early turn around.”
Border Adjustment Tax Hammers Consumers: “The border adjustment tax is a regressive tax, it hammers low-income and middle-income consumers, it doesn’t foster growth…I prefer we talk about getting the corporate tax rate competitive with the rest of the world, cleaning up this corporate welfare that’s embedded in our deductions, dealing with this individual tax cut that the White House is talking about, and freeing up this capital because of our archaic repatriation tax. If we dealt with each of these individually, I think we’d end up in a much better place for our economy.”
Reining In A Rogue Agency: “The CFPB is a rogue agency. It does not have any oversight here in Congress…Right now, the people of the United States have no oversight on that. Last year, I drafted a bill to try to put the CFPB back under the appropriation process and give oversight to Congress again.”
Outsider’s Message To Private Sector: “My message to CEOs around the country: there is a new sheriff in town, he’s an outsider, he’s a business guy, and he’s listening to you. I believe we’re going to see a new day when we pull back on these regulations, get our tax structure more competitive, get training programs back for the jobs that we can’t fill right now in the United States.”
Washington Needs To Focus On Results: “This White House is now moving at a business pace, not a government pace…Business is focused on getting results, Washington is not. That’s not criticism, it’s just a reality. We’ve got to change that if we want to dig out of this hole we are in.”
Senator Perdue is the only Fortune 500 CEO in Congress and is serving his first term in the United States Senate, where he represents Georgia on the Armed Services, Banking, Budget and Agriculture Committees.