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Stocks discussed on the in-depth session of Jim Cramer’s Mad Money TV Program, Wednesday, April 26.

Obviously there’s excitement on Wall Street regarding what President Trump’s proposed tax push could mean for companies and investors.

However, Mad Money’s Jim Cramer told viewers Wednesday to look beyond the noise coming from Washington, D.C., and focus instead on what’s propelling the markets: Earnings.

Cramer said he’s dubious about tax reform coming from inside the Beltway. Members of the Senate present a potential roadblock for Trump getting all his wishes. And it’s likely any tax reform could be temporary.

The Mad Money host’s advice: Stay the course. But don’t think too much about the positives of reduced corporate taxes.

“The truth is we have no idea what will pass. There are a lot of unknowns,” Cramer said. “We have to act as none of it will.”

No doubt tax reform would be good for companies – and probably investors. Using Disney (NYSE:DIS) as an example, Cramer said the entertainment and media giant could open theme parks or produce more movies if it had money to spend from tax savings.

Or, Disney could buy back stock and increase dividends.

“It doesn’t create jobs. But it would create wealth for shareholders,” Cramer said.

Cramer also pointed out that with a lower tax rate, investors holding billions in wealth may be forced into the market from the sidelines. That would push stock prices higher.

But the Mad Money host reminded viewers that a corporate tax cut would “explode the deficit.” And lawmakers would probably need to offset any corporate tax benefits with other tax increases or “draconian spending cuts from somewhere else.”

It’s a hot political issue. And because of that, investors should remember “the tree driving force (in this market) is earnings.”

No Love For These Companies

A slate of companies – Pepsi (NYSE:PEP), Boeing (NYSE:BA), Procter & Gamble (NYSE:PG) and Texas Instruments (NYSE:TXN) – are delivering consistent results for shareholders. But they get punished anyway?

Cramer suggested “there’s nothing wrong” with these four companies. But maybe the stocks “got ahead of themselves” since their run-up from the election.

Pepsi reported quarterly results that were “exactly what we expected.” But instead of an advance, the stock pulled back.

Boeing rallied after Trump’s surprise victory. And the company continues to deliver good quarterly results. But maybe not good enough for investors?

Procter & Gamble may be in sluggish mode. And activist Nelson Peltz is taking aim at the company But no excitement from investors?

Texas Instruments also has seen a good run since the election. And it delivered “a magnificent quarter.” But maybe more was expected?

While the Street takes aim at these four stocks, Cramer said investors should look into buying any shares if they get unfairly pummeled. He said these stocks, and others that may have fallen, present reliable additions to a portfolio.

“Don’t ask what’s wrong. Think ‘this is our chance,” Cramer said.

Enbridge: The Ultimate Canadian Trump Stock

Trump is targeting Canada in his push to address trade imbalances. That may be the first indication investors should avoid investing in companies north of the border.

But Cramer presented an unlikely Canadian candidate for consideration: Enbridge (NYSE:ENB).

This Canadian company presents investors with a “gigantic energy infrastructure play.” Controlling 17,000 miles of pipes delivering oil, and another 34,000 miles of natural gas pipelines, along with a renewable energy portfolio, this company is a North American energy giant.

Enbridge also is acquiring Spectra Energy (NYSE:SE), which will greatly expand the company’s footprint, especially in the Northeast.

Why is this the ultimate Trump stock? Cramer pointed out that Enbridge is likely to be a big job creator as the president pushes to expand energy resources. “If you believe in the North American energy industry I think Enbridge is a must-own stock,” Cramer said.

Waste Management Delivers

Cramer hosted Waste Management President and CEO Jim Fish on the show. The stock has rocketed 30% in the past 12 months. But recently Waste Management shares have taken a beating, especially after recent earnings.

Fish pointed out that the company delivered 8.3% revenue growth and strong EPS growth. The issue may be with recycling, he said. Chinese buyers were once big customers of recycled newspaper, but they’ve pulled out of the market. That development may have worried investors, Fish said.

Nonetheless, Fish said the company will push forward, expanding in areas like industrial and hazardous waste, and looking for opportunistic acquisitions, an effort that could get a boost depending on what tax reform looks like, he said.

Viewer Calls Taken By Cramer

Tesla (NASDAQ:TSLA): Maybe a stock to avoid. “If you love the car you’ll love the stock,” Cramer said. “Amazon (NASDAQ:AMZN) has great cash flow. Alphabet (GOOG (NASDAQ:GOOGL) has good earnings. Tesla has great cars.”

Pfizer (NYSE:PFE): A good dividend stock, but maybe not for investors looking for growth.

UnitedHealth (NYSE:UNH): One of Cramer’s favorites in the healthcare space.

United Rentals (NYSE:URI): “I’m good with it.”

U.S. Concrete (NASDAQ:USCR): The company is dealing with an accounting irregularity. And, for Cramer, that suggests “sell.”

Kinder Morgan (NYSE:KMI): “It’s a problematic stock,” Cramer said. Instead, consider TransCanada (NYSE:TRP) or Enbridge.

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