Advisors see Trump focusing on expiring tax cuts if he wins back White House

investmentnews.com:

If Donald Trump wins the White House again, financial advisors predict it will lead to the renewal of tax cuts at the heart of his signature tax legislation during his first term.

Earlier this week, Trump won the New Hampshire Republican primary, beating former South Carolina Gov. Nikki Haley, 54 percent to 43 percent. It was Trump’s second primary victory, and he is the odds-on favorite to win the GOP nomination.

It’s far too soon to know how a general election against President Biden will play out. But it’s never too early to look ahead to the potential agenda if Trump returns to the Oval Office.

During his campaign, Trump has dwelled mostly on his grievances about the four indictments and 91 criminal charges against him for attempting to overturn the 2020 election results, interfering in the Georgia election, improperly retaining classified documents and falsifying business documents.

He hasn’t spent much time advocating specific policies. But advisors anticipate that he’ll turn his attention in his first year to a litany of tax breaks – including lower individual rates and a higher estate tax exemption – that were part of 2017 tax reform legislation and are set to expire at the end of 2025.

“If Trump wins the general [election], then it’s likely that the House and Senate go Republican as well, and the 2017 tax cuts get extended,” said Paul Schatz, president of Heritage Capital.

Trump likely would want to start a new term byrevisiting a first-term legislative victory.

“Given that he put the initial legislation in place, I would guess it’s a high priority to extend [the tax cuts], if he’s back in office,” said Adam Blocki, an advisor at Schecter Investment Advisors.

Vijay Marolia, chief investment officer at Regal