Cathie Wood, CEO of Ark Invest, has called on President-elect Donald Trump to implement promised tax cuts swiftly, urging the administration to apply them retroactively starting January 1, 2025.
In an interview with Reuters on Monday, Wood explained that retroactive tax cuts would help accelerate economic growth and provide much-needed certainty for businesses and individuals. She emphasized that this move would benefit the market by giving clarity and confidence in the economy.
Trump’s campaign promises included lowering corporate taxes for companies manufacturing in the U.S. and extending personal tax cuts that expire next year. Wood believes that making these cuts retroactive would be a crucial step in boosting the economy.
“I see them saying, okay, we’re going to cut taxes, but we will make them retroactive to January 1, 2025. That would be very helpful, I think, in terms of providing certainty for the markets,” Wood said.
Trump is scheduled to take office on January 20. On his first day as president, he is expected to issue at least 25 executive orders covering various issues, including immigration and tariffs.
Executive orders are powerful administrative tools that allow the U.S. president to implement federal policies or clarify the application of existing laws without requiring new legislation.
Traditionally, executive orders issued on Inauguration Day serve as significant political statements, signaling change and a fresh start for the American public and the international community.
Most Commented