We don’t really know what to expect. President-elect Trump, more than any other national politician (at least in modern times) is much less predictable regarding what his actual governing policies will be. This is due in part to having no political track record for us to examine, but also in part because he appears to operate more on instinct than a well-thought-out political philosophy.
There have been numerous agenda items cited by Mr. Trump, in no particular order:
- Secure the border
- Repeal and replace Obamacare
- Strengthen trade agreements
- Overhaul financial regulation / Dodd-Frank Act
- Environmental De-regulation
- Rebuild infrastructure
- “Drain the swamp”
- And last but certainly not least, reform US Tax system
Now at this point, all one can really do is speculate as to what the President elect may accomplish in his term. One area that I’d like to spend a little time studying is the proposed US tax reform. The Trump tax plan proposes the following:
Very fitting to Mr. Trump’s personality, his proposed tax changes are extreme and the likelihood of this drastic of a change is to be debated. Very similar to Obamacare, I think a person can be confident in saying there will be some changes but for a complete repeal, in Obamacare’s instance, or complete tax reform is unlikely.
What the tax reform may look like is a hybrid of the proposed President-elects plan, the existing House GOP blueprint, and the Senate Finance committee.
One thing that is certain is with a Republican President, House and Senate some changes to the existing tax law is bound to happen. I for one, will be anxiously awaiting what comes of President-elect Trump’s “extreme” plans.
Chief Financial Officer