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Let’s Get Ready to Rumble: Linda McMahon Picked to Head SBA
Donald Trump has picked Linda McMahon, co-founder of pro wrestling company WWE, to lead his Small Business Administration. McMahon, 68, was a major Trump backer during his campaign, giving $6 million to a pro-Trump super PAC.
The SBA has an office in every state and helps with financing and training for small businesses and entrepreneurs. Trump said in a statement that McMahon would help to "bring back our jobs and roll back the burdensome regulations that are hurting our middle class."
McMahon ran unsuccessfully for U.S. Senate seats in Connecticut twice in 2010 and 2012. She spent nearly $100 million on the two campaigns. In her campaigns, McMahon supported a lower corporate tax rate and a reduction in regulations. Trump has proposed chopping the corporate tax rate to 15% from 35%, and drastically rolling back regulations.
McMahon and husband Vince founded WWE more than 30 years ago. The publicly-traded company has a market value of about $1.5 billion. Trump has ties to the WWE and is a member of its hall of fame.
