Howard Lutnick, CEO of Cantor Fitzgerald, passionately endorsed former President Donald Trump’s economic approach while sharply criticizing Vice President Kamala Harris’ policies during a recent interview.

Lutnick argued that Harris' tax proposals would stifle -- and indeed kill -- American innovation, and he praised Trump's likely impact on corporate taxes and tariffs, as Fox Business reports.

Lutnick Supports Trump’s Economic Agenda

Appearing on Fox Business' Mornings with Maria, Lutnick articulated his preference for Trump’s economic policies over those put forth by Harris.

He highlighted several components of Trump’s economic strategy including lower energy costs, reduced corporate taxes, and protective tariffs that benefit American farming and manufacturing.

“He will drive down the cost of energy, and he will drive down corporate taxes, which means they will build factories here, bring back farming. Tariffs will protect our farmers. Manufacturing will employ our people, and energy will drive down our costs," stated Lutnick.

In particular, Lutnick endorsed Trump's proposed tariff structure, which includes a significant 60% tariff on Chinese goods and a universal 10% tariff on all imports.

Critique of Kamala Harris' Tax Policies

Lutnick expressed serious concerns about Harris' tax policies, which he believes would hinder American businesses’ capabilities to raise capital and innovate. He pointed out Harris’ proposal to quadruple the tax on stock buybacks and to increase taxes on wealthy households and capital gains.

According to Lutnick, these policies are detrimental to the venture capital sector and therefore harmful to innovation. He highlighted a specific instance involving a healthcare startup valued at $200 million, which would face a hefty $50 million tax under Harris’ proposed 25% unrealized capital gains tax.

“You will literally kill the venture capital business. You will literally kill the innovation business in America,” Lutnick asserted. He continued by saying, “No venture capital, no Amazon, no Google, no Microsoft, millions of employees gone."

Praise for Trump's Corporate Tax Policies

Lutnick also praised Trump’s reduction of the corporate tax rate during his presidency, which he argued encouraged American companies to repatriate profits that had been previously held overseas. “The key save of America for COVID was that Donald Trump lowered the corporate tax rate,” he said.

He elaborated that this policy shift enabled companies to bring back trillions of dollars, a move Lutnick described as “amazing for America.”

Through these remarks, Lutnick painted a picture of Trump's economic policies as being beneficial for domestic manufacturing, farming, and employment, driven by lower costs and increased investment.

Launch of FMX Futures Exchange

The conversation with Lutnick also touched on Cantor Fitzgerald’s latest venture: the FMX Futures Exchange. This venture commenced operations on a Tuesday, starting with six major accounts and plans to gradually include more.

“We opened on Tuesday, so we're just beginning. We've got six accounts, and I mean the biggest accounts in the world, trading so far. And then every day, we're going to add a couple more,” Lutnick explained.

This recent business endeavor indicates the ongoing growth and innovation within Cantor Fitzgerald under Lutnick's leadership.

Howard Lutnick's interview highlights a stark contrast between the economic philosophies of former President Trump and Vice President Harris.

Expressing strong support for Trump, Lutnick endorses policies that aim to lower costs, enhance production, and strengthen American industries. Conversely, he critiques Harris' policies for potentially hindering innovation and business growth through higher taxes and financial regulations.

However, with developing ventures like the FMX Futures Exchange, Lutnick demonstrates a continuous commitment to fostering innovation and leadership in the financial sector.