Campaign Promises

Trump had an extremely unusual strategy during his (nearly 2 year) campaign for the 2024 presidential election. Amongst the chaos and what I remember as almost a complete saturation within our news with what Trump was saying and what was being done in response. However I have come up with something like campaign promises.  

I think it would be helpful to track over time what is being done in as close to real time as I can keep up with what is that chaos of Trump. Follow along as I make sense with as much of this as I can. I'll share with you changes over time and what we are doing to enact the change that a growing number of Americans are after.

At least, what we could, hopefully should do about it.

Then:

• Tax Cuts and Jobs Act of 2017: In his first term, President Trump enacted significant tax reforms, notably reducing the corporate tax rate from 35% to 21%. While this aimed to stimulate economic growth, analyses indicated a modest impact on the economy, with corporate tax revenues decreasing by 31% in the fiscal year 2018 compared to 2017. es.wikipedia.org
• Trade Policies: The previous administration imposed tariffs on various countries, with a primary focus on China, leading to a trade war. These measures aimed to protect domestic industries but resulted in retaliatory tariffs and increased costs for American consumers and businesses. es.wikipedia.org

Now:

• Renewed Trade Tensions: In his current term, President Trump has initiated another trade war, targeting major trading partners such as Mexico, Canada, and China with substantial tariffs. This escalation has led to global economic uncertainty, with financial markets experiencing instability and concerns over future business investments and consumer costs. apnews.com
• Economic Policy Shifts: The administration's recent policies, including protectionist measures and tariffs, have generated uncertainty and a risk-averse attitude among investors, negatively impacting markets. Additionally, the lack of rapid progress in deregulation efforts has led to skepticism about achieving anticipated economic growth and corporate benefits. businessinsider.com

Cut Taxes Further: Then and Now

Then:

• Initial Tax Proposals: During his 2016 campaign, Trump proposed simplifying the tax system, increasing taxes on the wealthy (including himself), and providing relief to the middle class. However, after his nomination, his tax plan shifted to align more closely with traditional Republican views, advocating for tax cuts that also benefited higher-income individuals. de.wikipedia.org
• 2017 Tax Reform: The Tax Cuts and Jobs Act of 2017 reduced the corporate tax rate and provided tax cuts to individuals across various income levels. While intended to stimulate economic growth, the reform's long-term effects on income inequality and federal deficits have been subjects of debate. es.wikipedia.org

Now:

• Proposed Tax Extensions and Further Cuts: President Trump is advocating for the extension of the 2017 tax cuts and introducing additional reductions, including cuts on corporations, tips, and Social Security payments. Economists have expressed concerns that extending these provisions could significantly increase federal deficits and potentially exacerbate inflationary pressures. en.wikipedia.org
• Legislative Challenges: Internal disagreements among Republicans have delayed the advancement of new tax reform bills. Key issues include the scale of spending reductions, appropriate budgetary metrics, and the inclusion of a debt-ceiling increase. These challenges have stalled efforts to pass further tax cuts and reforms. wsj.com

Reduce Regulations: Then and Now

Then:

• Deregulation Efforts: The Trump administration prioritized deregulation, particularly in the energy and financial sectors, aiming to stimulate economic growth by reducing what it considered burdensome regulations. For instance, in February 2017, President Trump signed an executive order to review the Dodd-Frank Act, a significant financial regulatory law enacted in response to the 2008 financial crisis. de.wikipedia.org

Now:

• Continued Deregulation Agenda: The current administration continues to pursue deregulation, with a focus on energy production and other sectors. However, the pace and impact of these efforts have faced scrutiny, and there is ongoing debate about their effectiveness in achieving the desired economic outcomes. businessinsider.com

Eliminate Federal Debt: Then and Now

Then:

• Debt Reduction Promises: During his 2016 campaign, Trump pledged to eliminate the national debt within eight years, primarily through economic growth and renegotiated trade deals. However, during his first term, the national debt increased, partly due to tax cuts and increased government spending.

Now:

• Debt Elimination Strategies: In his current term, President Trump has proposed aggressive measures to eliminate the federal debt, including implementing substantial tariffs and restructuring entitlement programs. Critics argue that these strategies could lead to economic disruptions and face significant legislative hurdles.

Boosting Domestic Energy Production: Then and Now

Then:

• Energy Independence Focus: During his first term, President Trump emphasized achieving energy independence by expanding domestic oil and gas production. His administration rolled back numerous environmental regulations to facilitate increased drilling and extraction activities, both onshore and offshore.
• Approval of Pipeline Projects: The administration approved significant pipeline projects, such as the Keystone XL and Dakota Access pipelines, aiming to enhance the transportation infrastructure for oil and gas and support the growth of the energy sector.

Now:

• "Drill, Baby, Drill" Mantra: In his current term, President Trump has reiterated his commitment to boosting domestic energy production, adopting the slogan "drill, baby, drill." He has pledged to increase oil drilling on public lands and provide tax incentives to oil, gas, and coal producers, with the goal of making U.S. energy costs the lowest globally. en.wikipedia.org
• Support for Natural Gas Exports: The administration has advocated for expanding natural gas exports. For instance, Interior Secretary Doug Burgum and Energy Secretary Chris Wright have promoted the growth of liquefied natural gas (LNG) facilities, such as Venture Global's LNG facility in Louisiana, to strengthen the U.S. position in the global energy market. apnews.com
• Proposed Tariffs on Uranium Imports: The administration has proposed a 10% tariff on uranium imports from Canada, aiming to encourage domestic uranium production. While this aligns with efforts to build a U.S.-based supply chain, concerns have been raised about potential increases in uranium prices and the impact on the nuclear energy sector. theverge.com