Swiss bank offers Trump ‘high marks’ for economic efforts

An executive representing Swiss bank UBS said Monday that President Trump’s economic achievements warrant “high marks.”

According to CNBC, UBS Wealth Management America’s chief investment strategist, Mike Ryan, said Trump has “changed the perception of what’s possible in Washington.”

“I think prior to his election, the prospects of tax reform, of regulatory relief or any sort of sensible approach to infrastructure, were off the table,” Ryan reportedly added at a meeting in Singapore.

{mosads}Ryan’s praise comes weeks after Republicans in Congress passed a sweeping tax overhaul, delivering on Trump’s key promise of reforming the tax code during his first year in office. Trump sold the plan as one that would benefit the middle class and American workers, though critics argue that it disproportionately helps the wealthiest in America. 

The overhaul reduced the corporate tax rate from 35 to 21 percent, though Ryan acknowledged Monday that the reformed tax code is “not everything that we hoped for.”

The banking executive also described the U.S. tax code prior to the bill passed in December as “very inefficient,” CNBC reported.