Buffett: Trump Tax-Cut Plan Won’t Fundamentally Change Berkshire

U.S. President Donald Trump’s plan to cut the corporate tax rate to 15 percent would be a tailwind for profitability at Warren Buffett’s Berkshire Hathaway Inc., but won’t fundamentally change how its business units operate, Buffett said.

“The deferred taxes that are applicable to unrealized gains on securities would all be applicable to us,” Buffett said during Berkshire’s annual shareholders meeting on Saturday. “We have $90 or $95 billion in gains, and our owners, dollar for dollar, will participate in that … If the rate were to drop 10 percent, that $9.5 billion is real.”

Buffett, a Democrat who vocally supported Hillary Clinton’s unsuccessful White House candidacy, added that the impact of lower corporate taxes would not translate into higher profits across all of Berkshire’s many dozens of businesses.

Regulated utility units, for example, are not likely to enjoy lower tax rates as savings, in Buffett’s view, would be passed

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