Unified control of the White House and Congress provides Republicans the opportunity to set the legislative agenda, advance key priorities, and revisit the regulations promulgated by the outgoing Administration. The likely legislative and regulatory activity presents both opportunities and challenges for the business community.
While other legislation continues to stall, powerful market forces are coalescing behind the White House’s trillion-dollar infrastructure plan. Darin Siders explains that broad legislation to repair the nation’s infrastructure is still achievable.
The Trump Administration released a $4.1 trillion FY 2018 budget proposal to Congress that proposes to balance the federal budget over 10 years by promoting economic growth through tax reform, regulatory relief, and infrastructure investments, and by significantly reducing federal spending.
While all multinational companies with operations in the US should begin modeling and assessing how potential reform proposals could impact their business, there are unique considerations and opportunities for non-US companies during this period of transformation.
The Trump Administration’s release of tax reform principles reaffirms that pro-growth tax reform remains a top priority for President Trump and Congressional Republicans.
The combination of a Republican president and Republican majorities in both the House and the Senate increases significantly the prospects for enactment of comprehensive tax reform, legislation to repeal (and eventually replace) the ACA, and other major legislation. One of the greatest challenges will be for President Trump and Republican Congressional leaders to decide which priorities to address first.