US President Donald Trump has completed a year in office. While Trump has been claiming he has worked more than any of the previous office bearers during this one year, the approval ratings suggest otherwise.
Trump’s score stands at merely 38 percent in a Presidential approval ratings poll by Gallup released on January 18. This is the lowest average first-year approval rating for any US President.
Having said that, his first year came to be a mix of hits and misses. Here’s a list of what Trump achieved or missed in his first year in the White House:
> Tax overhaul
The passage of the most sweeping US tax overhaul bill, estimated around USD 1.5 trillion, was Trump’s first major legislative accomplishment as the bill had been lying in the House of Representatives for nearly 35 years.
Overall, the tax overhaul bill aims to trim the corporate tax rate in US to 21 percent from 35 percent. It also lowers taxes for the vast majority of Americans, as well as small-business owners, and preserves certain tax savings for the middle class, including the student-loan interest deduction, the deduction for excessive medical expenses, and the tax break for graduate students.
Trump has fulfilled the promise he made to millions of Americans struggling in this economy, to cut taxes across the board for working families and businesses large and small.
I promised that my policies would allow companies like Apple to bring massive amounts of money back to the United States. Great to see Apple follow through as a result of TAX CUTS. Huge win for American workers
> War on ISIS
Donald Trump had reaffirmed the strategic partnership between the United States and Turkey, particularly in combating terrorism in all its forms and fostering regional stability.
He had also spoken to his Turkish counterpart Recep Tayyip Erdogan and discussed implementing a United Nations Security Council Resolution 2254 for the peaceful settlement to the Syrian crisis and defeat of the ISIS terror group, the White House had said.
According to media reports, the Islamic State has been losing grounds in Syria and Iraq, as the US-led coalition and Russia-backed Syrian troops had been focused on driving Islamic State from the country’s east.
ISIS is in retreat, our economy is booming, investments and jobs are pouring back into the country, and so much more! Together there is nothing we can’t overcome–even a very biased media. We ARE Making America Great Again!
— Donald J. Trump (@realDonaldTrump) January 18, 2018
> Improving economic picture
The US economy grew at its fastest pace in more than two years. The economy saw a surge in consumer demand and spending that led to an increased factory activity indication a brighter economic outlook.
Trump claimed the unemployment rate was at an 18-year low, and the number of Americans applying for unemployment benefits hit a 45-year low. Media reports suggest the jobless claims in the US indeed decreased by 41,000 to 2.20 million — the lowest level since February 1973.
Although Trump said his administration created nearly 2. 2 million jobs since the election, there are no official figures available to verify this claim.
The Trump administration rolled back various rules and regulations petaining to banking, finance, labour, and environment that were adopted earlier.
In October 2017, the US Treasury released a blueprint for the financial deregulation, with proposals for derivatives, stock markets and corporate bonds seeking to rein in post-financial crisis rules.
Some of these de-regulations are believed to have added over USD 27 billion of gross profit at the six largest US banks, lifting their annual pretax income by about 20 percent.
In November, US Commerce Secretary Wilbur Ross told CNBC in an interview that Trump had cancelled 860 rules and regulations that had been imposed by the Obama administration.
> Obamacare repeal
Trump had clearly stated his intention to repeal ObamaCare during his election campaigns in 2016.
“We will immediately repeal and replace ObamaCare – and nobody can do that like me. We will save $’s and have much better healthcare!,” Donald Trump had tweeted.
As expected, when he joined office he made repeated efforts to repeal the Affordable Care Act; however, the GOP-controlled Senate never mustered a simple majority.
Trump tried to sabotage the healthcare program by scrapping cost-sharing subsidies to insurance companies and slashing its marketing budget. Despite that nearly 9 million people signed up for Obamacare coverage.
> Build a border wall with Mexico
Donald Trump had been repeatedly pushing to build a Wall on the US-Mexico border to increase security. “We need the Wall to help stop the massive inflow of drugs from Mexico, now rated the number one most dangerous country in the world. If there is no Wall, there is no Deal!,” Trump had tweeted.
He reiterated his intent to go ahead with building of the wall as early as this week. “The Wall is the Wall, it has never changed or evolved from the first day I conceived of it,”he had tweeted.
Trump wanted the building of wall to be funded by Mexico. “The Wall will be paid for, directly or indirectly, or through longer term reimbursement, by Mexico, which has a ridiculous $71 billion dollar trade surplus with the U.S. The $20 billion dollar Wall is “peanuts” compared to what Mexico makes from the U.S. NAFTA is a bad joke!,” he had tweeted.
> Court intervention on several decisions
In the first year of office, Trump already had several legal interventions following his various decision regarding the ending of an immigration program for hundreds of thousands of children (DACA) or bar travel to the US by residents of six predominantly Muslim countries – Chad, Iran, Libya, Somalia, Syria and Yemen.moneycontrol