Jack Welch: I Love Trump's Tax Plan and Capping Deductions On the Rich

Former General Electric (NYSE:GE) CEO Jack Welch has warmed up to Republican presidential candidate Donald Trump, in part, after hearing his economic plan earlier this week at the New York Economic Club.

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“I thought his comments were first-rate,” said Welch during an appearance on Fox’s Your World With Neil Cavuto. “I love his tax plan, I love capping the deductions on the wealthy and I think it’s very important that we have a growth-oriented policy and I love the policy that Trump outlined.”

He also loved Trump’s demeanor describing him as both “presidential and substantive.”

As for the current administration Welch was not so complimentary. He explained his frustration with how different issues are being prioritized.

“I have watched for eight years the squeezing down of this economy. The choking off with climate change being the number one priority—it’s not the number one priority. Terrorism is far ahead of climate change right now. We’ve got to get a country that’s growing and where everybody has opportunity,” he said.

Welch, who backed Texas Senator Ted Cruz’s White House bid, said he would “think twice” about doing so again.

“I didn’t like him [Cruz] taking the pledge then walking away,” said Welch. “Now he was obviously piqued by the comments Trump made about his wife, so I can understand some reaction to that. But he made a pledge, as did Kasich, [to] support the nominee and I’m disappointed that they backed away from it.”