CEO Roundup—What Trump’s tax framework means for businesses; CSX CEO on the defensive in hearing

taxes
President Trump has teased changes to corporate tax policies.

What Trump’s tax framework means for businesses

Late last month, President Donald Trump unveiled a brief tax framework that will presumably lead to a more formal policy proposal. Among the changes in corporate taxation called for in the framework: a reduction of the corporate tax rate from 35% to 20% and a 25% tax rate for small and family-owned businesses (with antiabuse provisions). The framework also seeks to alter how depreciable assets and interest expense deductions for C corporations are handled. (Entrepreneur)

CSX CEO on the defensive in hearing

During a Wednesday hearing before the Surface Transportation Board—a small regulatory agency that oversees railroad rate and service issues, among other matters—the CEO of CSX apologized for recent problems but stood by his broader vision for transforming the country’s third largest railroad. Recent disruptions have cost businesses in the agriculture, automobile and steel sectors, but Hunter Harrison said their internal problems are “not a failure of precision schedule railroading.” (Reuters)

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