Cramer takes down Trump's un-businesslike 'legislative logjam'

People may be up in arms about President Donald Trump's decision to leave the Paris climate agreement, but Jim Cramer sees one glaring problem.

"There's only so much any president can do unilaterally," the "Mad Money" host said. "While Trump supporters may cheer that he made good on a promise to pull out of the agreement, something he campaigned on, there's another part of his agenda that seems to have gone fallow that we care about here. Tax reform. It's fallen by the wayside because it requires the cooperation of Congress. And, at least right now, it almost feels like the White House has given up on Congress."

In fact, what Cramer called Washington's "legislative logjam" has thrown a wrench into a number of pro-business policies the Trump administration vowed to enact, including corporate tax reform, repatriation of cash from overseas, and health care reform.

After meeting with a CEO of a company that pays a 31 percent federal tax rate, Cramer could not help but think of how much money that company would make if the rate were cut to 15 percent.

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"Remember, that's the one ideological position we have on 'Mad Money': we're pro higher stock prices," Cramer said. "If I thought tax reform was really on the table, I would've been pounding this stock to you, telling you you've got to buy it."

Instead, with the Russia probe, Trump's errant tweets, stalled health care reform, and the latest Paris accord development, that possibility now seems far-fetched.

"There was a time when I would've pounded the table on the bank stocks after yesterday's drubbing because I believed that some of the most onerous regulations that have hamstrung banks from controlling their own destiny would be repealed by now," Cramer said.

But now, trading weakness has overshadowed prospects of deregulation for the bank stocks, putting them in uneasy territory.

Cramer even argued that Trump's deregulation efforts may actually be backfiring, as the commander in chief seems more focused on unraveling restraints on fossil fuels.

"Trump's pushing fossil fuels all over the place, but coal just isn't economic versus natural gas in most parts of the country," Cramer said. "Trump favors aggressive oil drilling, but all that will do is cause more of a glut and lower prices. Self-fulfilling."

The "Mad Money" host asserted that whether investors think Trump still influences market moves or not, at the end of the day, the economy is receiving little fuel from Washington.

And while the Obama administration proved the market can still move up with few pushes from the federal government, Cramer found it unfortunate that the self-avowed pro-business president is doing so little.

"What we have now is a businessman president who's rendering himself irrelevant by spending his time tweeting about his former opponent, Hillary Clinton, and replaying his only big win to date, the election," Cramer said. "That's not exactly businesslike, and it's not what's needed to live up to this administration's promises on economic policy that impact business that seemed so bankable six months ago."

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