Warren Buffett: The new GOP tax law benefits Berkshire and act as a ‘huge tailwind for businesses’

Billionaire investor Warren Buffett, who did not support the Republican plans to cut taxes, told CNBC on Monday his Berkshire Hathaway stands to benefit from the new corporate rate.

Corporate tax reform is a “huge tailwind” for American businesses, he said, referring to the new GOP tax law that lowers the federal corporate rate from 35 percent to 21 percent.

The 87-year-old Berkshire chairman and CEO released his annual to shareholders on Saturday, and revealed that the company’s net-worth increased last year to $65.3 billion, with $29 billion of that coming from the change in tax law.

FOLLOW THE LINK FOR THE FULL REPORT – JR

https://www.cnbc.com/2018/02/26/warren-buffett-the-new-gop-tax-law-benefited-berkshire-hathaway-and-was-a-huge-tailwind-for-businesses.html

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