The Trump effect: Business, anticipating less regulation, loosens purse strings

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Wednesday, January 03, 2018

The Trump effect: Business, anticipating less regulation, loosens purse strings

Binyamin Appelbaum and Jim Tankersley in The New York Times

Writing in The New York Times, Binyamin Appelbaum and Jim Tankersley report that “a wave of optimism has swept over American business leaders, and it is beginning to translate into the sort of investment in new plants, equipment and factory upgrades that bolsters economic growth, spurs job creation — and may finally raise wages significantly.”

Appelbaum and Tankersley write that top executives are particularly excited about President Trump’s regulatory rollback, which eliminated 22 regulations for every new one implemented last year. Business leaders also applauded tax reform. “Businesses acknowledge that the most important reason for their increased optimism is the simple fact that the domestic economy continues to expand, with few clouds on the horizon,” Appelbaum and Tankersley report.

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US Ambassador to the United Nations Nikki Haley told reporters today that “we must not be silent” when it comes to Iran, CNN reports. “The people of Iran are crying out for freedom,” Haley said, warning the international community to avoid making the mistake of staying silent as it did in 2009.

Sadie Gurman of the The Associated Press details the Justice Department’s work to combat the opioid epidemic. Gurman outlines the DOJ’s effort to provide local law enforcement with “a trove of data” on opioid abuse within their communities—including which doctors are issuing the most prescriptions and how far patients will travel to see specific providers.

The Richmond Times-Dispatch Editorial Board argues that the repeal of the individual mandate in the Republican tax reform bill is “one of the tax bill’s most salutary elements.” According to the editors, “The mandate gave the federal government far too much power over individual choices,” and repealing it will give Americans back “some of the freedom they had lost.”

Alfredo Ortiz, president of the Job Creators Network, writes in The Wall Street Journal about “Congress’s gift to blue-state taxpayers.” In limiting the state and local tax deduction as part of the Tax Cuts Act, Republicans “will enforce fiscal discipline” in states that tax and spend the most.

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