"Any politician that can't pass a tax cut is probably in the wrong line of business," Buffett told CNBC on Tuesday. For those reasons, Buffett thinks tax cuts are likely. But Buffett, who supported Hillary Clinton in the 2016 campaign, isn't so sure that American businesses need the tax cuts that Trump is calling for. Related: The stocks set to win under Trump's tax planThe GOP tax framework rolled out last week proposes slashing the corporate tax rate to 20% from the current 35%. The billionaire didn't dispute that tax cuts would make many businesses even more profitable -- and lift their stock prices.

Source: CNN October 03, 2017 14:26 UTC