Businessman Warren Buffett said in an interview on Monday that businesses will benefit from the Republican-backed tax reform plan.
The billionaire Democratic donor told CNBC that the tax plan, which President Trump signed into law in December, gives U.S. businesses a “huge tailwind.”
The plan slashes the corporate tax rate from 35 percent to 21 percent.
“It certainly means corporations will pay quite a bit less in tax than they otherwise would,” Buffett said. “When we make money in 2018 domestically, and subject to a lot of little things here and there, basically we’ll be paying at 21 percent instead of 35 percent. That’s a lot of money.”