The Audacity of Hope: The Future for Sustainable Business Under the Trump Presidency
D
As the emotions of a tumultuous election have begun to subside, the reality of a Trump presidency has begun to crystallize. Trump’s lack of policy clarity and unfocused message certainly cloud the landscape for sustainable business. I am, however, going to take the advice of the lame-duck president that “reality will force [Trump] to adjust how he approaches many of these issues” and to take the longview.
Taking Trump’s prescriptions at face value, here is an attempt to clear the horizon for what lies ahead for sustainable business:
Improved Capital Access for Businesses
Part of Trump’s “new deal for Black America” calls for encouraging small business creation by allowing for the conversion of poverty assistance into repayable but forgivable microloans.
Trump has also stated his intent to repeal the Dodd-Frank financial regulations, which have been purported to stifle the viability of the community banking sector and, along with it, capital access for small businesses.
Tax Reform
Trump's plan features a simplified tax structure with three brackets for individuals: 12, 25, and 33. According to the conservative-leaning Tax Foundation, Trump’s plan will increase after-tax income for all income groups: the bottom 20% of earners will see after-tax incomes rise by 1.2%, while the top 1% will see theirs rise by up to 16%.
2
From the SBN Policy Desk: