Warren Buffett, the popular billionaire, is happy with the tax cuts that the Trump government has brought forth this year. He says that the tax cut will make the U.S. businesses flourish in the coming months.
The tax overhaul by the Congress last year is a very good tonic for the businesses and it will help all businesses. Berkshire Hathaway Company of Buffett reported a $29 billion gain. He said that his business is going to benefit from the new U.S. tax code. The lower taxes will help U.S. businesses immensely.
Buffett said that he was really struggling hard to find procurements for lower prices. He is looking to invest the $116 cash that he is holding in acquisitions that are offered at lower prices. He has invested a lot in short-term bonds. He wants to make all investments worth.
Now, Buffett feels that he can make good use of that money he is holding. He is waiting for the right opportunity to invest the money. He knows that there will be a downturn in the U.S. economy after the tax reforms take full effect. He will make use of the cash that is holding to invest wisely when the economy sees a downturn.