The recent Republican victory in the elections has opened the door for a significant overhaul of tax policy under President Trump.

With control of both the presidency and Congress, the GOP is in a position to advance a comprehensive tax reform agenda that goes beyond simply extending existing tax cuts.

This allows for a more aggressive approach to tax reductions without the need for bipartisan negotiations.

The newly empowered Republican majorities in the House and Senate will enable Trump to push through a tax bill that could introduce substantial cuts.

The primary limitations on this initiative will come from the party's ability to manage deficit spending and the reactions of global financial markets.

As the administration prepares to implement these changes, the focus will be on maximizing economic growth through tax incentives.