The uncertainty brought about by the political situation in the U.S. has benefited the information services company Wolters Kluwer, its chief financial officer claimed Wednesday.
Since taking office, President Donald Trump and the Republican-led Congress have set their sights on repealing and replacing Obamacare, reforming tax and cutting regulation. But in recent weeks uncertainty has been raised as to how soon the changes will come into effect, and what businesses and consumers can expect from them.
"Any time there is change or complexity, that is good for a company like Wolters Kluwer because it allows us to reach out to our customers and inform them and help them navigate through that change or complexity," Kevin Entricken told CNBC's Global CFO Council on Wednesday. "So when we talk about regulation or deregulation, there are a lot of things that a financial institution will have to grapple with and that's where we can help our customers."
Discussing healthcare reforms, financial regulation and tax code changes, Entricken said that, despite the uncertainty in the president's plans being "a bit of a challenge for everybody," the complicated landscape would, in turn, benefit his company.
Speaking about the complexities, Entricken added: "My senses are that at the end of the day we'll still see a very complicated landscape, for instance if the federal tax code is changed, we still have 50 states that have tax laws that will be going through changes of their own, so there will be a lot going on."
Republicans in Congress aimed to push tax reform through for August of this year – however, President Trump admitted to Fox Business Network that this deadline might have to be extended to give way for healthcare reform instead.
White House Press Secretary Sean Spicer also told reporters at his daily briefing on Monday that it would be a "great opportunity" to pass tax reform by August, "but we're going to do this right."