President Trump told Congress this week his administration is working on a “big, big tax cut”. Tyson Foods CEO is one Fortune 500 business leaders who is excited about that and already thinking about ways to invest the extra money.
Tyson’s Tom Hayes tells Fortune’s Susie Gharib that he would like to see President Trump bring the corporate tax rate down to 25 percent. It is currently 35 percent. It could have a significant impact on this food giant which is ranked number 66 on the Fortune 500 with revenues of more than $41 billion.
“That can mean a lot in terms of new innovation,” says Hayes. “It could be that we build new plants and we have more of a growth model. That is a significant amount of money and something that would certainly make us happy.”
Hayes also welcomes the President’s other business proposals to roll back regulations and fund infrastructure projects. “Whatever is going to help drive American jobs is fine by us. We’re a great American food company,” he says. “I think anything that provides for less regulation, lower tax base is going to be helpful to spur new jobs and spur new growth.”