Trump’s tax bill ‘unleashing unbelievable’ power in economy, individual entrepreneurs: Charles Schwab

By Business LeadersFOXBusiness

Tax bill is unleashing power in the economy: Charles Schwab

Charles Schwab Corp. founder Charles Schwab on the tax reform legislation and the Trump administration's efforts to roll back regulations.

Charles Schwab Corp. founder and Chairman Charles Schwab said President Donald Trump’s tax bill is a runway for long-term economic growth.

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“This tax bill is unleashing [an] unbelievable amount of power in the economy [and] power in our individual entrepreneurs,” Schwab told FOX Business’ Maria Bartiromo on “Mornings with Maria” on Tuesday. “I think we just have to put on our hat and be ready to fly away here. This is going to be an incredible period the next two or three years.”

American workers have already seen an 8% boost this year, Schwab said, and added that he expects more people to return to the workforce.

On the corporate side, Schwab said company profits are “substantially higher than last year” and predicted upwards of 4% economic growth next year.

“We have all this new influx of money in the private sector … Just hang onto your hat,” he said.

Charles Schwab is also one of the many companies passing on savings to employees. According to Schwab, company employees were rewarded $1,000 bonus.