Amid all the chaos of Donald Trump's first year in the White House the American economy is on a roll, Wall Street is booming and unemployment is at a 17-year low of 4.1 per cent.

But can the President take credit for it?

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UBS America's chief investment officer Mike Ryan argues he can — but only partially.

"Part of it is the business cycle, business cycles go through a natural rhythm where, you have the early stage of recovery, moves into expansion, then later phase of expansion and I think certainly the Trump administration's benefited from that but I would also say the policies have helped aid and abet that," he said.

"There's been a change in Washington that's changed what was possible.

"Prior to the election there was no discussion about tax reform. There was little effort to try and repeal or change the regulatory environment, so I do think the culture has changed."

A break for the big end of town

Mr Trump is planning big tax cuts for the big end of town, arguing at 35 per cent America's corporate tax rate is the highest in the developed world.

Donald Trump plans to slash the tax paid by corporations and high-income earners. ( AP: Patrick Semansky )

He plans to slash it to 20 per cent, as well as giving high-income earners personal income tax cuts.

The package has been passed by the House of Representatives and Douglas Henry, who owns a factory in Lebanon, Pennsylvania, hopes it will get the Senate's tick of approval soon.

"The marketplace is just screaming for the pent-up demand and growth that small business and independent business can offer and we would hope that the market will continue to demand our products and we can continue to expand, could make our small contribution to the GDP, as well as improve the lot of our employees," he said.

"They're going to benefit if we benefit."

Factory owner Douglas Henry says the benefits of corporate tax cuts would flow on to his workers in Pennsylvania. ( ABC News: John Mees )

Lebanon is a former steel town and its fortunes have ebbed and flowed with transitions in the US economy. But according to Richard Wertz, his family's candy business is recession-proof.

"Regardless of what's going on people still come in here for, to get their sweets, their confections," he said.

Mr Wertz is a card-carrying Republican but didn't vote for Mr Trump and said he was worried about Americans less fortunate than himself.

"I think the trickle down that they say from Wall St to the middle class hasn't really happened yet," he said.

"I have friends that work in charitable industries that are taking care of many, many people. Whether they just can't afford the healthcare, they can't afford putting food on the table."

He's not a fan of Mr Trump's tax plan either.

"I think it will benefit a select few, like the upper crust," he said.

"I think we'll pay for it in the long run. In the next 10 years I think it's going to add a lot to our deficit."

US senators are proposing changes that would delay the introduction of the corporate tax cut until 2019 to save money.

But the President wants it introduced immediately and hopes to pass the bill by Christmas.

If he succeeds it would mark a breakthrough in his presidency, given to date his major campaign promises have been blocked, including by his own party.