CTA's Shapiro Sees Good Signs for Economy in Incoming Trump Administration

The U.S. economy is poised to thrive under President-elect Donald Trump, CTA President Gary Shapiro said in an opinion piece posted by Fox News Tuesday. He pointed to the unified GOP government combined with an incoming Senate Democratic Minority Leader Chuck Schumer, D-N.Y. “With this new combination, we’re likely to see legislation that helps businesses invest in growing and hiring,” said Shapiro, who criticized Trump harshly during the campaign season, but post-election said he sees "a lot of positive" in his presidency (see 1611090038). “By lowering corporate taxes; reforming patent, securities and class-action laws; and reducing regulatory burdens, businesses will have more money to invest in growth and job creation.” He also mentioned Trump’s infrastructure funding intentions and talk of rolling back burdensome regulations. The stock market will be a check on Trump’s impulses, Shapiro said: “Should he take positions that hurt tech, it would affect the broader stock market since tech stocks represent more than 20 percent of the S&P 500.”