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  Bloomberg Markets Americas  Bloomberg  May 1, 2017 12:20pm-12:24pm EDT

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abigail goodby will go to the president now. he has a meeting with the community bankers. pres. trump: where is linda? linda mcmahon? yes. thank you. where? thanks, linda, for joining us today. she's doing an incredible job helping small businesses, just like you. some of you are not so small. i hate to tell you great a lot of people would like to be small, right, like the small business people. but they are great people. what they do through community development is amazing. community banks are the backbone of small business in america. the reason that young families can purchase their first homes, farmers can buy their next tractor, and entrepreneurs can open up their first business, creating many new jobs in our country. community banks. over half of the small business
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and loans going to small business, and is really a substantial number higher than that, come from their community banker. you provide critical access to capital, especially for the rural communities. that's why in the first 100 days, i have taken action to roll that burdensome regulations that undermine community banks, especially -- i know you will be very disappointed -- dodd-frank. [applause] it's out of control. not only for community banks, but banks, period. we can take community out of that one, right? we are working on that right now and you will see a very big difference. 've directed my administration to provide regulatory reform and relief so that those rules don't shut down community banks, which have been shutting down, and small businesses, and put them on a competitive this advantage against the larger institutions.
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that's what it has done. it has really made you and given you such a tremendous competitive disadvantage. i have friends that are community bankers, and they've gone through hell over the last long period of time. it's really a much longer period of time that people would understand. i've also directed the treasury secretary steve mnuchin to review damaging dodd-frank regulations that encourage risky behavior from wall street. everybody knows what that means. we are also working to achieve tax reform and dramatically andr taxes on businesses the middle class. we are proposing one of the largest tax cuts in history, even larger than that of president ronald reagan. the tax cut is bigger. administration is committed to working with each and every one of you to help americans achieve their financial dreams, so that -- we are all here for
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the same thing. we have a statement -- i like it much better than even your hat. it says make america great again. that is what we all want, right? we want to make it great again, and that's what's going to happen. [applause] i want to thank you all for being a very special people. you do a very, very special job. the community really understands it. i know community bankers are the most popular person in their community. they have built communities, and have been so badly hurt over the last number of years. -- so badly hurt over the last number of years. we are going to give the incentives back. you are going to grow and thrive and prosper trade may be more importantly, you will have businesses all over the country growing and thriving and prospering. i want to thank you for being here, it's a great honor. you will see things happening like you've never seen before. thank you very much. thank you.