Forward this to all Hillary supporters. You know the economy would suffer under her. Trump hasn’t even taken office yet and we are already seeing an improvement.
By Gary Shapiro
1. Both houses of Congress and President-elect Donald Trump will be pro-business.
In January, we will have a Republican Congress and a Republican president, who should cooperate to pass laws that will free up capital for businesses to hire and create jobs.
We will also have a pro-business Democratic dealmaker, Sen. Chuck Schumer of New York, as Senate minority leader. Schumer replaces Sen. Harry Reid of Nevada, who used his leadership position to attack everything from the Koch brothers and Mitt Romney to patent-reform legislation and internet freedom.
With this new combination, we’re likely to see legislation that helps businesses invest in growing and hiring. By lowering corporate taxes; reforming patent, securities and class-action laws; and reducing regulatory burdens, businesses will have more money to invest in growth and job creation.
2. New infrastructure investment will create jobs and fuel growth.
Congress and the Trump administration will cooperate to invest in infrastructure. They may even agree on a plan to repatriate more than $2 trillion parked overseas by U.S. companies reluctant to bring the money home and pay the current 35 percent U.S. corporate tax rate, the highest rate of any developed country.
The lower taxes paid on this reclaimed money could go directly to infrastructure or through an infrastructure bank.
3. Many rules that hurt business growth will vanish.
Unnecessary and questionable rules are choking growth and companies’ ability to hire. During his campaign, Trump said he would reverse President Obama’s executive orders and rules hurting job creation.
By simply repealing the Department of Labor’s actions narrowing the independent-contractor definition, restricting intern hiring and mandating overtime for those making under $47,500, Trump will free businesses, especially startups, to create jobs.
4. Trump won’t do anything to sabotage economic growth.
Many economists fear Trump will block imports, skilled at immigrants and foreign investment. He won’t. He cares too much about being successful, and he will rely on visible data points to define his success.