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Buffett says tax cuts provide huge boost to US businesses

Investor Warren Buffett said in an interview on Monday that businesses will benefit from the Trump tax reforms.

The billionaire told CNBC that the tax plan, which President Trump signed into law in December, gives U.S. businesses a “huge tailwind.”

The law slashed 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.”

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