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Trump has big plans for a second administration. That’s what he suggested.

Trump has big plans for a second administration. That’s what he suggested.

Despite these policies, Trump is placing greater emphasis on new proposals aimed at working and middle-class Americans: exempting earned tips, Social Security wages and overtime wages from income taxes. Notably, however, his tipping proposal, depending on how Congress writes it, could provide behind-the-scenes tax breaks for the highest earners by allowing them to reclassify part of their paychecks as tip income—a prospect that, at best, could lead to hedge fund managers or high-profile lawyers taking advantage of the policy, which Trump says was designed for restaurant servers, bartenders and other service industry workers.

Trump’s position on international trade is to distrust global markets because they are harmful to American interests. He proposes tariffs on foreign goods ranging from 10% to 20%, and in some speeches he has mentioned even higher percentages. He promises to restore an August 2020 order requiring the Food and Drug Administration to buy “essential” drugs only from U.S. companies. He promises to block purchases of “any critical infrastructure” in the US by Chinese buyers.

Trump called for a shift away from society’s emphasis on diversity and for legal protections for LGBT citizens. Trump has called for an end to diversity, equity and inclusion programs in government agencies, using federal funding as leverage.

On transgender rights, Trump has promised to do away with “boys in girls’ sports” altogether, a practice he insists, without evidence, as widespread. But his politics go far beyond the standard applause in his rally speeches. Among other ideas, Trump would like to reverse the Biden administration’s policy of extending Title IX civil rights protections to transgender students and ask Congress to require that only two genders be recognized at birth.

The president-elect is seeking to reduce the role of federal bureaucrats and regulation in all sectors of the economy. Trump calls all regulatory cuts an economic magic wand. He promises sharp reductions in utility bills for American households by removing barriers to fossil fuel production, including opening all federal lands to exploration—even though U.S. energy production is already at an all-time high. Trump has promised to jumpstart homebuilding by reducing regulations, although most building regulations come from state and local governments. He also says he will put an end to “frivolous litigation by environmental extremists.”

This approach will strengthen the influence of the executive branch in many ways. This power will come directly from the White House.