Businesses of all sizes and from all over the world are feeling extremely optimistic about the U.S.’s economic outlook.
News broke Thursday that Saudi oil giant Aramco will be expanding in the U.S. thanks to the Trump administration’s tax overhaul.
“We are looking at new business opportunities in the U.S. and with the tax cuts it will make it much more profitable … It is part of our strategy to grow our business in the U.S.,” CEO Amin Nasser said in an interview with Ruerters.
“The Trump administration has been positive towards the energy industry. As long as what they are doing is in the interest of all and the U.S. economy is growing, we are happy,” Nasser said on the sidelines of the World Economic Forum in Davos.
In addition to business expansion from international firms like Aramco, small businesses in the U.S. are seeing benefits from Trump policies.
A recent poll from the Job Creators Network reveals that small business confidence in the U.S. is high following recent policy changes led by the president.
Small business owners revealed broad support for Trump Administration policies and say that Republicans are better suited to deal with economic issues over Democrats. In fact, 63.8 percent of respondents agreed that Trump policy changes have helped their businesses and 57.5 percent say Republicans are better at managing the economy—as opposed to 14 percent who said the same for Democrats. Much of the support is likely due to the general policy of deregulation that has been pursued by President Trump since taking office.
The poll also finds that 68.4 percent of small business owners view the new tax cut legislation favorably and 57.7 percent say the measures will help their businesses. Since much of the media coverage surrounding the bill has been critical (57.3 percent of respondents viewed the coverage as biased), these numbers provide insight into what the biggest job creators in the country are expecting to gain from the new tax relief.