Thursday, December 1, 2016
Donald Trump wins the presidency. What's his economic plan ?
Donald Trump won the US presidential election. Donald ran on a platform of economic populism. He ran a wild campaign of slogans and untruths that attacked the economic establishment. And he won.
He is in the unique position of owning very little to the existing economic order: Democratic or Republican. He does owe a great debt to working class Whites in key states that voted for Trump in larger than expected numbers.
He will try to focus his economic programs on their needs. However, short of a government jobs program, no one is quite sure how to help working class Whites.
Let's look at some of Donald Trumps economic policies:
Likely to Pass Quickly
Two to three trillion dollar federal tax cut. Higher deductions and lower rates for the middle class.
$500 billion to $1 trillion in Infrastructure spending tax credits over 10 year
Reduced funding for regulatory agencies
Cut government spending 1% for non-defense
Likely to Pass Longer Term
Child care tax credits
Business can repatriate off shore profits at 10%
Energy Policy changes
ACA (Obamacare) replacement
More difficult to pass
$25 Billion dollar wall with mexico
Trade agreement changes
Tax changes beyond tax cuts
Changes in immigration policy
Election Year Promises only
Limit cuts to safety net
Eliminate corporate subsidies except for R&D
Eliminate carried interest
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