Trump and Republicans in Congress eye an ambitious 100-day agenda, starting with tax cuts

Published On Nov 30, 2024, 8:43 AM

Former President Donald Trump and congressional Republicans are preparing an ambitious 100-day agenda aimed at renewing and extending several tax cuts, which could add approximately $4 trillion to the deficit over the next decade. This plan primarily targets increasing tax benefits for wealthier households while reducing government subsidies and certain safety net programs including food assistance and healthcare. Republicans believe these measures could stimulate economic growth, a concept often criticized as 'trickle-down economics.' Despite previous challenges, GOP leaders are determined to push these policies through despite potential pushback from Democrats.

Read full article

Stock Forecasts

AI prediction results, not representative of any investment advice.

SPY

Positive

The renewed focus on tax cuts, especially if they favor higher-income individuals and corporations, could lead to short-term boosts in stock prices for specific sectors, especially financial services and luxury goods that are often favored by wealthier consumers. However, the potential expansion of government deficits and social safety net cuts could raise red flags for broader market stability in the long term.

View SPY on Yahoo Finance ↗