Trump’s clashes with CEOs would hinder tax overhaul – financial advisor

Former U.S Treasury Department official, Jim Millstein has said President Donald Trump’s clashes with corporate leaders and lawmakers could hinder progress on issues such as a tax overhaul.

In an interview with Bloomberg Television on Thursday, Millstein said “The president’s got a long hill to climb.”

“The presidency is important to getting major legislation passed, and the president is now functioning at historical all-time lows in terms of his polling, and therefore he has very low clout on the Hill.”

Chief executive officers from Merck & Co., Intel Corp. and Under Armour Inc. left the administration’s manufacturing council this week, criticizing Trump for his response to the racially charged violence in Charlottesville, Virginia.

Millstein added that, “What happened over the course of the past 24 hours is that it’s going to be even tougher for the president to muster the kind of support in the business community that is necessary to effectuate any major legislative change.”

Millstein said that “we’re looking at a presidency, that if there were a vote taken today in a parliamentary system, I think we would see a no-confidence vote.”

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