Hoping to spur economic growth, President Donald Trump embarked Friday on new steps to dismantle some of the tax and financial regulations established by former President Barack Obama. The review of tax regulations could give greater leeway to companies looking to shelter income overseas, or simply seeking to reduce the time and money spent on completing personal and business tax filings. Tax reform package coming: TrumpThe administration is also trying to pass tax reform that would reduce corporate and personal rates. But Trump claims the regulations have had the opposite effect, while also limiting access to credit for many Americans. His report will explore if it would be better to liquidate troubled financial firms through a modified form of bankruptcy.

Source: CBC News April 21, 2017 16:52 UTC