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President Trump … and the effects he could have on your wallet.Where things standThe job market is gaining strength. Unemployment is relatively low while consumer confidence is high.The stock market’s main averages reached their highest numbers in more than 16 years.The housing market has recovered largely from the recession-causing collapse.The auto market ended 2016 stronger than expected.Interest rates have risen since election day with expectations of further gains this year.TaxesIndividuals and corporations should get tax breaks when “low-hanging fruit” legislation is approved and signed by Trump. Both the Trump plan and the proposal from HouseRepublicans would benefit wealthier Americans most. Most benefits of the tax changes won’t likely come into play until 2018.Health careRepublicans plan to repeal and replace the Affordable Care Act, known as Obamacare. Due to its complexity, this process could take more than a year before actual changes occur. President Trump said provisions for young adult children and those with “pre-existing conditions” should be retained.RATE SEARCH: Shop today for the best high-yield CD rates.
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