Trump executive orders target tax rules, ‘too big to fail’ financial institutions – New York News

Trump executive orders target tax rules, ‘too big to fail’ financial institutions – New York News

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The Trump administration is embarking on new efforts to study and possibly dismantle some of President Obama’s tax and financial regulations. (April 21)
AP

WASHINGTON — President Trump aimed to dismantle even more financial regulations with executive orders on Friday, directing Treasury officials to take another look at tax rules and oversight of “too big to fail” financial institutions.

In a signing ceremony at the Department of the Treasury, Trump once again signaled that he intends to roll back many of the sweeping regulations the Obama administration adopted in the aftermath of the 2008 financial crisis.

“We have taken unprecedented action to bring back our jobs and return power to our citizens. It’s been taken away.  We’ve lifted one terrible regulation after another at a record clip, from the energy sector to the auto sector.  And we have many more to go,” Trump said. “We’re here today to continue this great economic revival.”

The directives Trump signed Friday will:

► Review significant tax regulations issued in 2016 and 2017 that are overly complex and “impose an undue financial burden” on taxpayers.

“Such a big thing. People can’t do their returns. They have no idea what they’re doing. They’re too complicated,” Trump said.

But the order is more likely to target corporate taxes than individual returns. Among the most significant tax…

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