During President Donald Trump’s first term (Trump 1.0), his economic policies set the stage for higher wages and more job opportunities for working people, especially low- and middle-income families. Here is a quick review.

First, the Tax Cut and Jobs Act of 2017 cut the Federal Income Taxes of low- and middle-income families by about $2,000. (Data source: public statement from former Congressman Bill Shuster).

Second, the legislation reduced the Corporate Income Tax rate from 34% to 21%. The lost tax revenue was small but had a large silver lining – it provided a strong incentive for businesses to locate and expand manufacturing plants here instead of overseas.

Third, the president exited the NAFTA (North American Free Trade Agreement), ending incentives to export our jobs to Mexico and others.

Fourth, he took steps to curtail illegal immigration, reducing competition against American workers for those jobs.

The evidence shows the policies worked; wages of lower income families rose faster than higher income families during those years. We are still reaping benefits from Trump 1.0.

The Biden years were marked by three policy disasters (Afghanistan withdrawal, illegal immigration, and resurgent inflation).

The Southern border flew open and 8 million illegal aliens entered the country; 2 million known got-aways who (for obviously dubious reasons) sneaked in and disappeared into the interior; and the Cost of Living rose more than 20%.

Trump won convincing popular and Electoral vote victories and brought with him Trump 2.0 economic policies.

Although still in Year One, it is worth looking at his economic policies and their impact on low- and middle-income families.

First, the No Tax on Tips exempts up to $25,000 from Federal Income Taxation.

Second, No Tax on Overtime exempts up to $25,000 (for a joint return) from Federal Income Taxation.

Third, Deductions for Seniors provides for an additional $12,000 deduction for a qualifying couple.

All these provisions phase out for higher income families and overwhelmingly benefit low- and middle-income families.

Tariff policies are designed to level the playing field relative to our international competitors. The U.S. created this problem after World War II when we reduced tariffs and quotas on what the world sold here to help all of the war-torn countries revive and rebuild their economies.

The U.S. also allowed all of those countries to impose tariffs and quotas on our goods exported overseas. Added together, this American generosity precipitated the gutting of our manufacturing base and lost many good jobs.

Trump 2.0 uses tariffs and quotas to reset the terms of trade with our trading partners. The net effect will be to bring our supply chains home with the direct benefit of low- and middle-income families.

Fourth, deporting illegal aliens will shrink the available pool of low and unskilled workers. Businesses will have to compete, through higher wages, for the available talent.

Taken together, Trump 2.0 will likely be even more successful helping low- and middle-income families than Trump 1.0. Let’s allow economic analysis to guide us, not emotional blindness.