Trump’s ‘Big, Beautiful Bill’ Draws Praise From Wall Street’s Most Powerful Banker [WATCH]

JP Morgan Chase CEO and Chairman Jamie Dimon is calling on Senate Republicans to advance President Donald Trump’s major tax and border security bill, describing it as critical for American businesses and long-term economic growth.

Speaking Monday on Fox Business’ Mornings with Maria, Dimon voiced strong support for the legislation passed by the House on May 22.

The bill proposes an extension of several provisions from the Trump administration’s 2017 tax cuts and allocates over $100 billion in new spending for border security measures.

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“First of all, I’m thrilled they got [the bill] through and I think [House Speaker Mike] Johnson did an unbelievable job doing that,” Dimon said during the interview.

“I think they should finish it. I think increasing consistency, keeping the tax rates going that allow businesses to invest, [from] small businesses to large businesses, is really important for growth.”

Dimon highlighted the economic impact of the 2017 tax reform package and said the same principles apply today.

“If you go back to the bill in 2017, it brought back trillions of dollars to the United States, it created a lot of jobs, a lot of growth,” Dimon said.

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“People will look at those numbers and they don’t accurately say what those are. So it will work, then they should go back and worry about cutting [spending].”

The bill includes a $3.8 trillion tax cut, the elimination of taxes on overtime pay and tips, and a variety of provisions aimed at small businesses.

It also contains significant funding for border enforcement: $46.5 billion for restarting construction of the border wall, $4.1 billion to increase staffing at U.S. Customs and Border Protection, and a $1,000 filing fee for asylum seekers.

Despite House passage, some Senate Republicans have expressed skepticism about the bill’s fiscal impact.

Senators Ron Johnson (R-WI), Rand Paul (R-KY), Rick Scott (R-FL), and Mike Lee (R-UT) have publicly opposed the legislation in its current form, citing concerns about federal spending and the national debt.

Senator Paul stated during a May 26 appearance on CBS News’ Face the Nation that he may vote in favor of the bill if the provision involving the debt ceiling is removed.

President Trump signaled on May 26 that he would allow Senate Republicans to revise the legislation.

That decision came after Speaker Johnson attempted to dissuade the Senate from making significant changes.

Two House Republicans, Representatives Thomas Massie (R-KY) and Warren Davidson (R-OH), voted against the bill due to its projected impact on the federal deficit.

In response, White House Press Secretary Karoline Leavitt said during a May 22 briefing that President Trump intends to back primary challengers against both lawmakers.

Dimon urged lawmakers to approve the legislation first, then return to discussions about reducing the deficit and reforming entitlement programs.

“I think they’re better off just getting this thing finished as best they can, the smaller the deficit is, the better,” Dimon said.

“Then they can go back and make Medicare, Social Security and other federal programs more efficient.”

The bill remains under review in the Senate, where it is expected to face additional scrutiny and potential amendments before a final vote.

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