American voters have given their verdict in the Presidential elections and it’s Donald Trump who will head the United States. The next 3-4 months are likely to see huge reforms by the new president Donald Trump in keeping with his promises to break down the policies put in place by the Bill Clinton and the Barack Obama administrations. He will most likely go after the legacy of Barack Obama and dig his feet deep into Washington with a Red majority Capitol Hill playing to his advantage.
Trump had promised to scrap major policies that were the hallmark of the Obama presidency. Here are five things that may see immediate impact after a Trump presidency:
Obamacare: The eponymous healthcare system proved tough for President Barack Obama to see through. Although the plan guaranteed free and quality healthcare along with inclusive insurance coverage to all, it was seen to be partial towards some economic section of the social strata. Trump has been a sharp critic of Obamacare and has promised to repeal the act as soon as he comes to power.
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Immigration: He will suspend immigration of people coming in from countries that are struck with terror or are terror prone. Trump has advocated throughout his campaign that he will enforce strict and watertight immigration laws and turn back any immigrants that come from troubled regions as they are, according to Trump, a compromise to the US security.
Taxes: Trump will reform the tax structure with swift action. Trump has promised to bring down the tax slabs from seven to three. He is also expected to end the estate tax and increasing standard deductions on individual filers. Trumps wants to bring surtaxes down on high earners and promises his landmark changes will lead to double digit growth in the income of America’s wealthiest.
Trans-Pacific Partnership : Trump seeks to review the international trade deal that both he and Hillary have come to agree is not in the ‘best’ interest of the US. Trump has accused China repeatedly of doing intellectual property theft, currency manipulation, unfair trade, undervalued export among other things. Trump seeks a review of the trade deal and a cancellation in case America’s interests are not kept as of prime importance. He is also expected to impose unilateral punitive taxes on trade with pacific trade partners. International markets, as anticipated, have tanked and in this uncertain time the tumultuous activity in the markets is expected to carry on till Trump puts a clear economic plan on the table.
Migrant labour force: Immigrants constitute a large portion of the labour force in the US and contribute significantly to the GDP of the country. However, Trump is expected to enforce extreme vetting measures so that he can remove the illegal immigrant labour pool of at least 2 million people.
The president elect will sworn to office on January 20 next year in the US capital Washington D.C. in front of an expected crowd of at least 3 million people.