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The First 90 days of the Trump Administration: Policies, Po The First 90 days of the Trump Administration: Policies, Po

The First 90 days of the Trump Administration: Policies, Po - PowerPoint Presentation

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The First 90 days of the Trump Administration: Policies, Po - PPT Presentation

Frank Donatelli Executive Vice President Director Federal Public Affairs Gov Jim Hodges Senior Advisor Director South Carolina Government Relations 2017 A Full Plate and They Wont Be Sharing Dessert ID: 622464

reform tax immigration trump tax reform trump immigration gop repeal trade house executive secretary rate infrastructure corporate 1986 amp

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Slide1

The First 90 days of the Trump Administration: Policies, Politics and What's Ahead

Frank DonatelliExecutive Vice President Director, Federal Public AffairsGov. Jim HodgesSenior AdvisorDirector, South Carolina Government RelationsSlide2

2017- A Full Plate, and They Won’t Be Sharing Dessert

GOP Congressional AgendaOverhauling the Tax CodeHealthcare ReformReversing Obama-era RegulationsTrump NominationsSupreme CourtTrump Administration AgendaOverhauling the Tax CodeInfrastructure ReformImmigration ReformHealthcare ReformRenegotiating Trade DealsSlide3

Healthcare ReformSlide4

GOP control of Executive Branch and Congress means they are poised to act on its promise to repeal the

ACASenate budget resolution passed in Jan. 2017Congressional Republicans have signaled the possibility of a “repeal and transition” strategyUncertainty & instability of markets with repealThe House Freedom Caucus/Tea Party Senators

Leaked House GOP Policy Brief/Discussion Draft

Mixture of policies from Ryan’s House GOP Blueprint & HHS Secretary Price’s repeal bills

Senate Plans

Timeline: Speaker Ryan says repeal to happen before end of 2017

Obamacare Repeal & Replace: A Bitter Pill to SwallowSlide5

Tom Price confirmed as HHS Secretary on Feb. 10 on party line vote (52-47)Seema Verma, Trump’s choice to lead CMS, was voted out of Committee on March 1

President Trump and HHS Secretary Price developing their own ACA repeal/ replace planExpected Mid-MarchTimeline: Puts full-repeal deadline at 2018“Insurance for everybody”?Purchase coverage through the use of tax credits and expanded Health Savings Accounts Trump Campaign Healthcare Platforms Similar to Ryan’s GOP Blueprint

Day One Executive

Order

to Minimize

the Economic

Burden of ACA

Executive Order to Stabilize Insurance Market

Obamacare Repeal & Replace: A Bitter Pill to SwallowSlide6

Overhauling the Tax CodeSlide7

Like 1986, Tax Reform Fundamentals Are in Place

Separate Reconciliation Instructions for Health Care and Tax ReformHouse and Senate have divergent approachesHouse GOP Tax Reform Blueprint – HighlightsMove the U.S. towards a territorial tax systemLower corporate and individual tax rates

Establish a destination-based cash flow tax system – the proposed border adjustment tax (“BAT”) is the

linchpin

Senate plans to release its own tax reform framework – this

could look

quite different from the House

plan

President has his own ideas

Tax Reform- Back to the Future of 1986Slide8

Tax Reform- Back to the Future of 1986

House GOP Blueprint – Pro-Growth ApproachCalls for a significant reduction of the corporate tax rate: 35 percent  20 percentProvides full expensing and eliminate the interest expense deduction

Eliminates a host of deductions, credits, and exemptions to help pay for the rate

reduction

Moves the U.S. to a territorial system with border

adjustability

Senate

Tax

Reform

Models

Portman-Schumer International Framework

Lowers the corporate tax rate

Sets limitations on interest expensing

Includes repatriation

No border adjustment, but provisions to limit companies’ ability to move profits offshore

Hatch Integration Plan

Eliminates the corporate tax rate

Chairman Hatch appears to have backed off pushing this plan Slide9

Steve Mnuchin confirmed (53 to 47) as Secretary of the Treasury on Feb. 13

What to Expect from a Trump Tax PlanCalls for a simpler, fairer, and flatter tax codeA shift to a territorial tax system that will help U.S. firms to be globally competitive once againA reduction in the individual tax rate so that American workers can keep more of what they earn A

reduction in the business tax rate to help stem the tide of corporate inversions

a

tax cut package for the middle class that may include a deduction for child care expenses, a federal education tax credit, and an increase to the standard deduction

Tax Reform- Back to the Future of

1986Slide10

Renegotiating Trade DealsSlide11

Trans-Pacific Partnership (TPP)On Day 1, President Trump withdrew the U.S. from TPP, fulfilling his campaign promise

North American Free Trade Agreement (NAFTA)President Trump has made it clear he wants to renegotiate NAFTA – specifics are not known More bilateral trade agreements, as opposed to regional agreements (i.e. TPP), with this AdministrationTrump created the White House National Trade Council Wilbur Ross confirmed with bipartisan support (

72-27) as Secretary of Commerce on Feb. 27

Trump’s USTR Candidate Robert

Lighthizer has yet to have a hearing scheduled..

Majority GOP support for free trade platform contradicts Trump’s protectionist trade agenda

NAFTA originally

passed with the support of 66 percent of Republicans in the House and 80 percent of Republicans in the

Senate

Renegotiating Trade Deals- The Elephant in the RoomSlide12

Infrastructure ReformSlide13

President Trump campaigned for a $1 trillion infrastructure planPublic private partnerships, direct federal funding, revenue neutral tax credits for investment

Bridges, pipelines, highways, powerlines, ports, dams, etc.Two core principles: Buy American, and Hire AmericanJan. 24 executive orders to expedite environmental review and approval of high-priority infrastructure projects and to accelerate the Keystone XL and Dakota Access pipeline projects Trump Transition Priority Project List to NGA- 50 infrastructure projects nationwide, totaling at least $137.5 billion

Bipartisan support for confirmation of Elaine Chao as Transportation Secretary on Jan. 31

Strong GOP opposition to direct federal funding bill

Senate Democrats introduced a detailed $1 trillion plan in January

Highway Trust Fund

heading toward a major fiscal cliff in

2021

2018 Priority or part of Tax Reform?

Infrastructure Reform: Building Bridges to Nowhere?Slide14

Immigration ReformSlide15

Immigration Reform: The World’s Most Exclusive Party

No real movement in CongressPerdue-Cotton Immigration billTrump has made it clear that immigration and protecting the U.S. borders will be a top issue for the Administration.  3 Current Executive Orders1 Pending Executive Order to Modify Travel Ban (Suspended by the Courts) With more immigration executive orders expected on other immigration related topics, such as H1-B visas, it is evident that Trump plans to use his executive powers to help drive his immigration agenda.  Trump’s Joint Address to Congress Laid out Vision for Immigration

Called for Rs and Ds to Work

T

ogether

Merit-based System

Optimistic

that

immigration

r

eform is possible, with theme of America FirstSlide16

Questions or Comments?

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