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Kudlow: Trump 'ending the war on business'

Kudlow: Trump 'ending the war on business'
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Conservative economic analyst Larry Kudlow said on Sunday that businesses no longer feel like they are the enemy of Washington under President TrumpDonald TrumpVirginia GOP gubernatorial nominee acknowledges Biden was 'legitimately' elected Biden meets with DACA recipients on immigration reform Overnight Health Care: States begin lifting mask mandates after new CDC guidance | Walmart, Trader Joe's will no longer require customers to wear masks | CDC finds Pfizer, Moderna vaccines 94 percent effective in health workers MORE

"Donald Trump is, in fact, ending the war on business," Kudlow said in an interview with John Catsimatidis on AM 970 in New York.

"Trump is ending the punishment of investment. That's what this tax bill is really about: The return on capital will go up after tax. The cost of capital will go down after tax. And that will lead directly into new business projects, and more hires, and better wages and productivity. It doesn't get any better than this," he continued. 

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Kudlow's comments come after Republicans on Capitol Hill spent the week drafting legislation based on the president's tax reform plan. 

The plan, which is expected to benefit the upper-income tax brackets, would raise $1.3 trillion over the next decade by eliminating a deduction for state and local taxes. 

The president and congressional Republicans are scrambling to score a legislative victory on tax reform after Senate Republicans failed to fulfill their seven-year campaign promise of repealing and replacing ObamaCare twice this year. 

Trump and House Speaker Paul RyanPaul Davis RyanBiden's relationship with top House Republican is frosty The Hill's Morning Report - Presented by Emergent BioSolutions - Facebook upholds Trump ban; GOP leaders back Stefanik to replace Cheney Budowsky: Liz Cheney vs. conservatives in name only MORE (R-Wis.) have both said they expect that the Republican bill will get some Democratic votes.