Former President Donald Trump, now re-elected to a second term, has vowed to implement business-friendly policies, including sharp corporate tax cuts, higher tariffs and accelerated deregulation.
He says, he will 6% cut in corporate tax rateFrom its current 21% to 15%, which will lead to greater profitability for companies. According to the Tax Foundation, such a huge cut would be the sixth largest tax cut since 1940. Analysis,
Trump's deregulation agenda helped him garner support from some of the country's most prominent business leaders. Many nonprofits, particularly those supporting women's rights and other freedoms that Trump has threatened to take away if he becomes president, have also spoken out since his victory. Here's how CEOs, nonprofit leaders and business groups are reacting to Trump winning the election.
Elon Musk
Elon Musk, Those who campaigned for Trump spent millions to help Trump get electedand whom Trump mentioned in his victory speech, praised the election results in a statement on Wednesday.
“The American people gave @realDonaldTrump a very clear mandate for change tonight,” he said.
Marc Andreessen
Marc Andreessen, co-founder and general partner at Silicon Valley venture capital firm Andreessen Horowitz, echoed a post from Musk on X, saying, “America is a nation of builders. Soon, you will be free to build.”
“It's time to build,” Posted by Andreessen,
jeff bezos
Amazon CEO Jeff Bezos was also quick to praise Trump's victory.
“Many congratulations to our 45th and now 47th President on an extraordinary political comeback and decisive victory. No country has a greater opportunity to lead and restore the America we love,” he wrote on Wednesday. Wishing @realDonaldTrump success in unifying.”
National Restaurant Association
“We congratulate President-elect Donald J. Trump, Vice President-elect J.D. Vance, and members of the U.S. Senate and House,” Michelle Korsmo, president and CEO of the National Restaurant Association, said in a statement. “We look forward to working with members from both parties to advocate for policies that will create an environment where restaurants can thrive as a cornerstone of our communities and our economy.”
Korsmo also considered a Massachusetts ballot measure seeking to eliminate the tip credit, which lets employers count workers' tips toward the minimum wage.
Korsmo said, “In Massachusetts, voters overwhelmingly supported tipped workers and restaurant owners by rejecting a misguided proposal to eliminate the tip credit. The decisive vote in Massachusetts continues an unbroken streak for those tipped workers and restaurant operators , who have fought for their tipped wages.”
Alliance for American Manufacturing
The nonprofit committed to strengthening the manufacturing sector released a hopeful statement following President-elect Trump's victory.
“We expect American manufacturing jobs to be a priority for the Trump-Vance administration in 2025 and beyond,” said AAM President Scott Paul. “This means continued strategic application of tariffs; smart investments in industry, innovation, and infrastructure; expanding Buy America buying policies and tax rules to boost domestic production; and boosting apprenticeships and worker training programs.”
plan c
Plan C, a nonprofit that provides information to help increase access to abortion medication in the US, called Trump's victory a “disaster” for reproductive rights, but said “abortion is here to stay.”
“Donald Trump's second administration is a coming disaster for reproductive justice. While we can expect the worst for abortion rights, we also know that no matter what,” the group said in a statement Wednesday , Abortion is here to stay.”
Plan C co-founder Alyssa Wells said, “I am horrified to see another Trump administration and expect this iteration to be much worse for abortion seekers than their first.” “But abortion pills will be here to stay. Community distribution networks and foreign providers will remain intact, and abortion pills will continue to come into the country.”
National Women's Law Center Action Fund
The National Women's Law Center (NWLC) Action Fund, a nonprofit dedicated to gender justice, called Trump's victory “a dark day for our democracy.”
Center urged his supporters to “remember that Donald Trump is not a king. He is not a dictator. He is a branch of our democratic government, and he and his administration can be kept in control until The people, our institutions and those in power refuse to bow to their authoritarian tendencies.”