The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2022 Euromoney, a part of the Euromoney Institutional Investor PLC.

US banks cheer on tax reform

Banks are hopeful that the Trump administration might finally get something done.

US president Donald Trump talking tax in Indianapolis on Wednesday

Talking to senior executives of large and small banks across the US is to be reminded just how big a deal for them the tax reforms proposed by the Trump administration at the end of September are.

The American Bankers Association was, of course, quick to applaud the administration for its commitment to lowering taxes and to agree with its contention that lower rates will pay for themselves by growing the economy, creating jobs and so expanding the tax base and revenues.

This enthusiasm goes far beyond gratitude for the boost to banks’ own profits if a political deal can be hammered out to get a reduction in the corporate tax rate from 35% to 20% through both houses.

US corporate financiers have talked for years about the inhibiting impact of an overly complex tax code and the urgent requirement for a comprehensive overhaul that fears over the short-term boost in federal borrowing have delayed for so long.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree