Presidential Message on National Entrepreneurship Month

Key Points

• Promises fewer rules: for every new rule, ten old ones would be scrapped, which could make starting and running a business easier
• Lets companies write off research costs right away and signals support for digital money and blockchain startups
• Keeps a tax break that lets many small businesses deduct part of their income, which could lower their tax bills
• Plans to cut $100 billion in what it calls unnecessary rules and raise some import taxes to protect American factories, which could also raise some prices
• Many points are goals, not detailed plans; some changes may need new laws or could face court fights, so timing and details are uncertain

Impact Analysis

Govbase has not yet run an impact analysis on this legislation.