So, the president is above the law, if his party allows it?
No. You're not reading.
Regardless of who controls what, the instant the president is out of office, he's fair game. Impeachment is a long, tedious process.
For instance, the investigation into Nixon actually began in mid June of 1972. The actual impeachment didn't start until February 6th of 1974. He didn't resign until August 8th of 1974, nearly two-and-a-half years after the whole Watergate investigation had begun.
What we have here is the very beginning of that same process. What we saw yesterday in Cohen testifying is pretty much that same initial hearing back in June of '72. I'm estimating that it will be at least the end of the year before they will have enough to begin the impeachment process, which I'm sure Trump will fight to the bitter end.
So I'm of the opinion that Trump will finish out his first term, but never have a shot in hell of being reelected, because even if he is he's a goner. And mark my words: If he's under impeachment when the election rolls around, the entire GOP will turn on him. They're not going to back a guy that is going to be removed the instant the election is over.
The founding fathers knew full well that if you could charge the president and have him have to make bail, hire attorneys, prepare a defense, etc., etc., etc., then it wouldn't take a whole lot to get law enforcement officials to nickle and dime any president to death to the point he'd never have time to take a shit, let alone anything else.
So, no. He's not above the law. The law simply has to wait.
But the beauty of it is this: the statute of limitations on any crime the president commits doesn't start until the day he leaves office. So keep the faith. He's going to get his, we just have to wait a while for it.