As the dust settled on midterm elections, the Republican Party emerged victorious, overhauling the Senate and accruing a net gain of seven seats.

The GOP has now gained steam as it rolls into two more pivotal years of policy-making.

The change of tides has caused a lot of speculation, but a fair look at the primary policy concerns of the party shows a balance of stronger and weaker main initiatives.

A New York Times article from Wednesday quoted business lobbyist Bill Miller as saying, “The three issues we’ve got teed up now are corporate tax reform, then immigration reform, as well as getting new trade agreements passed.”

Those initiatives have been on the table in Washington for some time. The business world depends heavily on what comes of them in these next two years with the new seating chart in Congress.

The trade agreements on the table are the Trans-Pacific Partnership and the Transatlantic Trade and Investment Partnership. These agreements would increase United States exports to developing nations and boost manufacturing efforts. It has received President Barack Obama’s support and could provide numerous benefits to our economy. If this is an area where Republicans can find middle ground, this is a win for corporations, workers and politicians.

Corporate tax reform is another Republican initiative. Following trickle-down economics, the ideal Republican tax rate would be around 28 percent, which is below the current rate of 35 percent. Corporate donors smile at the prospect, but to me, Obama presents a better idea.

According to a New York Times report from Thursday, Obama’s tax plan is to reign in taxes on profits held overseas to stimulate infrastructure spending. This extra push to get a piece of exuberant profits would help develop better transportation systems and other federally funded projects at home, which is what Americans — especially those of lower incomes — need right now. Endlessly complex tax codes should allow for some compromise between party lines on this one.

Approval of the Keystone XL pipeline, a project that would carry crude oil to refineries throughout the U.S. that has been up in the air for over a year, is another Republican initiative that could advance, which could be a travesty.

I can’t wrap my head around the construction of Keystone XL. It’s hailed as a “jobs program” but is centered singularly on construction, which will only last a few years. The monetary and environmental cost of building an infrastructure around a fossil fuel is absurdly large, especially when our roads and bridges are crumbling and our poorest citizens need public transportation made available.

The Keystone Pipeline serves oil interests and, according to Independent Vermont Sen. Bernie Sanders in a Friday interview with MSNBC, is destined to produce major exports to China. There is no clear benefit to Americans here outside of about 2,000 temporary construction jobs. Hopefully public opinion can turn the tides against Republicans on this clear folly.

The Republicans can do some good with trade deals that can stimulate the economy, but they must find a middle road on corporate tax reform and find a way to incorporate infrastructure spending into whatever advance they make, even if the wealthiest see their taxes cut. Ideally, the Keystone Pipeline will never materialize.

American voters should be keenly aware of what comes of these initiatives during the next two years because the economic development of the United States will hinge on the progress made in the chambers of the Capitol building.  Not only do businesses depend on these bills, but so do we.

Phil Kramer is a sophomore finance and economics major. His column appears weekly. He can be reached at [email protected].

Published on November 10, 2014 at 12:01 am