Deregulation, tax policy, and certainty: foundations of the U.S. recovery

Abstract

This paper focuses on the impact that the change in direction of economic policy ushered in by the Trump administration has had on the performance of the U.S. economy. Since the 2016 election, economic activity and performance in the small business sector of the economy has soared to record levels as documented by the National Federation of Independent Business’s (NFIB) Small Business Economic Trends survey. The Tax Cuts and Jobs Act, deregulation, and certainty have been critical to energizing this important sector. NFIB’s data demonstrate the strong correlation between implementing pro-growth policies and job creation, investment, wage growth, and profits.