The article argues that the economic hardships attributed to the Biden Administration's policies significantly contributed to Trump's electoral success. Inflation has led voters to reminisce about the economic prosperity experienced under Trump's 2017 Tax Cuts and Jobs Act (TCJA), which expanded savings for many Americans and encouraged small business growth. Following Trump's election victory, optimism in the economy has resurged, with investments returning to the U.S. Proposals for tax reform are anticipated, although some radical suggestions like eliminating the IRS face skepticism, while others may have a better chance in the Republican-controlled Congress.
With costs of necessities skyrocketing, voters longed for the return of Trump economic policies, as shown by his landslide victory in November.
The TCJA allowed individuals to keep more of their money and boosted small business initiatives, contrasting sharply with policies under the Biden Administration.
Despite skepticism about drastic proposals like abolishing the IRS, incremental tax reform initiatives have a higher likelihood of legislative success with the current Republican majority.
The recent return of investment money to the US post-election signals a restoration of optimism as Trump aims to reinvigorate the economy.
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