White House & S&P 500: The White House Administration is aiming to showcase a middle-class tax reduction plan by September. The timing for the to be outlined tax stimulus program will likely have some input from the stock market’s performance. Should the stock market and/or economy show themselves to falter to any significant degree, we believe the outline and proposal of the tax reform initiative will be pulled forward within an election year and campaigning needs. White House Administration recognizes the cognitive dissonance prevalent amongst voters who care less for how a tax incentive is paid for and more for the incentive itself. Democratic nominees would be forced to contend with such a proposal with little incentive to combat it under the guise of affordability. The market would adjust to the perceived proximity of the tax proposal’s voting favorably. The incentive serves as another “put” underneath the market over the course of 2020 and may already be in play.