Donald Trump won the presidency in significant measure on a promise to deliver more robust growth and better jobs. As things stand, his efforts and GOP prospects for the midterm elections will importantly hinge on accomplishing tax reforms that encourage more investment.
Stronger growth could be greatly assisted by reducing health care costs, regulatory burdens and the trade deficit, but the failure of Speaker Paul Ryan's Obamacare replacement, legal barriers to quickly deconstructing Obama-era regulations and complexity of renegotiating international trade arrangements leave cutting taxes as the most viable path for Republicans to accomplish progress quickly.
Unfortunately, Mr. Trump and the Republicans are hung up by conflicting objectives and special interests that make the prospects for success difficult.
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