Claim: The Republican Party is in favor of free market capitalism, free enterprise, and fiscal conservatism.

The Republican Party , commonly referred to as the GOP -LRB- abbreviation for Grand Old Party -RRB- , is one of the two major contemporary political parties in the United States , the other being its historic rival , the Democratic Party . The party is named after republicanism , the dominant value during the American Revolution . Founded by anti-slavery activists , modernists , ex-Whigs , and ex-Free Soilers in 1854 , the Republicans dominated politics nationally and in the majority of northern States for most of the period between 1860 and 1932 .   There have been 19 Republican presidents , the most from any one party . The first was 16th president Abraham Lincoln , who served from 1861 to 1865 , when he was assassinated , and the most recent being 45th and current president Donald Trump , who took office on January 20 , 2017 .   The Republican Party 's current ideology is American conservatism , which contrasts with the Democrats ' more progressive platform -LRB- also called modern liberalism -RRB- . Further , its platform involves support for free market capitalism , free enterprise , fiscal conservatism , a strong national defense , deregulation , and restrictions on labor unions . In addition to advocating for conservative economic policies , the Republican Party is socially conservative , and seeks to uphold traditional values based largely on Judeo-Christian ethics . The GOP was strongly committed to protectionism and tariffs from its founding until the 1930s , when it was based in the industrial Northeast and Midwest . Since 1952 there has been a reversal against protectionism and the party 's core support since the 1990s comes chiefly from the South , the Great Plains , the Mountain States and rural districts in the North . as well as from conservative Catholics , Mormons , and Evangelicals nationwide .   As of 2017 , the Republican Party is documented as being at its strongest position politically since 1928 . In addition to holding the Presidency -LRB- via Trump and Vice President Mike Pence -RRB- , the Republicans control the 115th United States Congress , having majorities in both the House of Representatives and the Senate . The party also holds a majority of governorships -LRB- 33/50 -RRB- and state legislatures -LRB- full control of 32/50 , split control of six others -RRB- .