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Trump New Year's Momentum Sapped by Wolff Book's Revelations

  • Agenda on welfare overhaul, infrastructure imperiled
  • Split with Bannon deepens as Mercer cuts ties after Trump call
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The rift with Bannon is a big deal for "Trumpism," says Michael Steel of Hamilton Place Strategies.Source: Bloomberg
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President Donald Trump entered 2018 with momentum: the massive tax cut he signed just after Christmas, he hoped, would give his legislative priorities a lift early in the New Year.

But all of that energy vanished after publication of excerpts from a bombshell book detailing dysfunction, backstabbing and chaos in his White House and Trump’s ensuing rupture with his former chief strategist, Steve Bannon. The rift between the two deepened Thursday as Bannon’s main financial backer, Rebekah Mercer, cut ties with him after a she and Trump spoke by phone earlier in the day, according to two people familiar with the call.