The Agenda Takes Shape
Author: Greg Valliere
December 6, 2024
AMID ALL THE DRAMA over Cabinet nominations, the Trump agenda is starting to take shape — with an emphasis on laissez faire regulatory policies.
WHAT ABOUT steep spending cuts and massive tax reductions? That could take a while.
WITH CONGRESS narrowly divided — the GOP has only a 4-seat majority in the House — the real action may focus on regulatory changes, many of which don’t need Congressional approval.
THIS BRINGS US to the issue of Artificial Intelligence, where the industry has little to fear.
TRUMP ANNOUNCED YESTERDAY that a leading AI venture capitalist, David Sacks, will join the administration as the “AI & Crypto Czar.”
MANY MEMBERS OF CONGRESS and their staffs freely admit that they don’t understand tech issues; few members in Congress have a detailed knowledge of AI. “Some of us don’t even understand the internet,” one Hill staffer says.
THUS IT APPEARS THAT THE INDUSTRY will virtually self-regulate without much interference from Washington. This is where the action will be in the first few months of this administration.
IT WILL BE SPRING OR later before there’s a budget deal — and perhaps summer or later or later before there’s a tax package takes shape. Agreeing on tariffs and details of deportation of immigrants could take months.
BUT TRUMP, LIKE ANY NEW PRESIDENT, wants an early victory, especially after the messy nomination fights. Trump has two options for a quick victory: a truce in Ukraine or the Mideast, or a very market-friendly regulatory climate. The latter will be a dream come true for Silicon Valley.
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