The recent United States mid-term election had an incredible swing from one house to another in a single moment. Republicans swiftly consumed the Senate and House and that pushed them well over the majority and in most cases the domination of the houses. While not all the changes are completely recognized, or what outcome that many people changing could have. We do know that at the very least, the Canadian economy will certainly improve from it.
Republicans for some time have been pushing for a bill known as the Keystone XL. This bill has a whole mess of things around the oil pipeline including a free-trade deal between Canada and the US around oil. It will also lead to a tax reform and a number of other problems, but the oil part is crucially important because the US and Canada have been trying to get this part taken care of for some time. Unfortunately, until now, the US congress was caught between the republicans controlling one house and the democrats controlling another, so nothing could ever be passed. Now that Republicans have the majority for both houses of congress, they can pass through everything and only need approval from the president.
What this means as well is that not only will jobs in Canada increase from greater increase of trade between Canada and the US, but a number of other acts which have been on hold for some time, could be put through. One in particular, the Trans-Pacific Partnership, could finally see some push through, so long as Canada gets in on it too. Before long we could see a huge and prosperous trade network between over 13 different nations, including Canada and the US, which will improve economy for everyone involved.
So rejoice, because the economy might finally be jumping up in full force soon!