President Trump won his return to office with a much stronger mandate than anticipated – winning the popular vote by roughly ten million votes, and likely generating a four seat pick up in both the Senate and House. As in his first term, he will have complete control of the government for at least two years. Clinton, Bush, Obama and Trump all lost full control by the mid-term, as fulfilling their campaign promises was not what the public wanted. In Trump’s first term – when he was still learning the ropes in Washington, he initially acquiesced to Congressional leaders’ desire to try and rein in Medicaid -- and when they failed, he took command to pass his tax cuts. This time, he is unlikely to waste much time working to make those tax cuts permanent. The big question is whether fulfilling promises on tariffs, immigration reform, lower corporate tax rates, etc… will move in parallel or wait, as they may impact how quickly the tax cuts are enshrined.
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