I did my own “Ben Franklin chart” and would like to show how the pros outweighs the cons for you and this industry under President Trump — by a substantial margin.
On labor, Trump is focused on job creation with an owner’s best interest at heart. That means I expect him to push hard against a federal minimum wage. He has pressure from states complaining no federal increase has happened since 2009, but it will be minimal compared to Hillary’s $15 per hour. Expect it to go to $9 per hour.
This administration will not want to expand the sharing economy model of pushing institutional tax obligations to workers. They will embrace this new group as an organization of the freelance public, but will more likely close tax loopholes. Trump will make good on his promise to lower corporate taxes and healthcare overhead much faster than you think. Thanks to a Republican House and Senate, action items important to Trump will be approved efficiently.
Trump’s personal disdain for red tape will prove a positive for you. Anything unjustifiable will be on the chopping block. The sharing economy will seize this opportunity to get rid of regulations, but thankfully Trump’s team appears serious about keeping the ones that pertain to safety in our industry. So I predict sharing economy interests will fall flat and we will get what we want (with the right advocacy).
I assert this despite the announcement of Uber’s CEO joining Trump’s business advisory council. In my view, this advisory group is a smart play; keep your friends close and your enemies closer. That’s a cue from Trump’s bestseller, “The Art Of The Deal.” He needs Silicon Valley to simmer down.
Trump can’t be bought and owes no one. This industry has a golden opportunity to be heard over the noise of lobbyists for special interests. Unlike any President of our lifetimes, Trump is unencumbered, and best of all, he has an affinity towards entrepreneurs and small business owners like you.
Trump is focused on making America safe. That will result in increased global travel for the U.S. If a meeting planner must choose among unstable countries or the U.S. to bring their corporate groups to, we’ll win and that’s great for you!
So as Betty Davis once famously quipped, “Fasten your seat belts. . .”
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DOL issues. Department of Labor Donald Trump economic outlook labor laws LCT Publisher Sara Eastwood-Richardson
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