The “Trump Effect” on Economic Policy

With the election finally behind us and Hillary Clinton sent packing with an absolute pounding on November 8, what will we likely expect to see in the way of economic policies and tax policy decisions from the incoming Trump Administration?

On the economic policy side, I would expect an immediate decision will be a multi-pronged attack at stopping the growth of government with hiring freezes in almost all departments except military, Homeland Security, and our Intelligence departments.

Trump has not been shy about his position of cutting the size and scope of the federal government so look for an immediate slow down if not reversal in the number of useless government jobs being created.

On other economic policies we likely will see Trump within the first 100-days take sweeping steps to advance legislation as well as regulatory cutbacks in what I expect will be sweeping dramatic cuts in the EPA especially in all areas affecting domestic energy production, renewable energy and our oil, natural gas, coal, and move our nation away from dependence sooner vs later on foreign oil. The benefit here could have a hidden agenda that could be aimed more at making deep cuts in our national debt with a growing stronger U.S. dollar, which could also add to a GDP that could in his first year hit between 4.7 and 5.1!

Look immediately for President-Elect Trump to take a chain saw to all Executive Orders signed by Obama that will have dramatic economic impacts on our economy in the first quarter of 2017.
The real cost of these actions during the Obama administration have for the most part cost our nation hundreds of thousands of jobs. It is likely a Trump administration will also use the Executive Order route but my guess is it will be precise, targeted and aimed at anything liberal!

On U.S. domestic tax policy my bet is Day 1 or shortly thereafter a newly sworn in President Trump will sign a domestic tax bill that will have some very unique features; first a retroactive tax relief bill back to January 1, 2016 wiping out the full last year of Obama’s hostile tax policy; this legislation will be targeted to middle-class America (those who voted) and small business (those who create our jobs) with what I predict will be targeted tax credits for depressed communities for job credits, energy credits, infrastructure and improvement projects that will not only create billions in tax savings but at the same time in a Reagan-Like approach, be a catalyst for immediate job creation.

Finally, look for the liberal media, the progressives in Washington D.C. and all the whiners still crying over Hillary’s defeat to demonize every action by Trump as a gift to the rich! I expect Trump already has a plan that involves a lot of ignoring the media elites sending them to their room for time out while he marches forward with what I expect to be one of the clearest economic visions since Reagan. Whatever will be said about Trump and his economic policies, one thing is certain; tens of millions of Americans are waiting for January 20, 2017 at high noo
EST for the party to begin! I feel a real momentum building and have observed a noticeable new smile on many faces since election-day. Let us hope and give our support that we actually may see him help to “Make America Great Again”.