With less than a month until the U.S. election, corporations in various sectors are preparing for the potential impacts of a Trump or Harris administration. Former President Donald Trump’s policies included slashing the corporate tax rate, imposing tariffs on Chinese goods, and cutting regulation. Vice President Kamala Harris has proposed raising the corporate tax rate to 28% and is expected to continue President Joe Biden’s policies like fighting junk fees.
In the airline industry, a Harris administration could lead to increased consumer protections and challenges for airline mergers. Banks, such as JPMorgan Chase, may face a rollback of regulations under Trump, while Harris could continue the aggressive regulatory agenda set forth by the Biden administration. In the electric vehicle sector, EV mandates may be in jeopardy under a Trump administration, while Harris is likely to support incentives for EVs.
Both Harris and Trump have proposed changes to the U.S. healthcare system, including efforts to lower prescription drug prices. Media companies are watching closely for potential mergers and acquisitions, with differences in regulatory environments under each administration. Restaurants may see changes in how tips are taxed, with both candidates proposing reforms. In the tech sector, the future of artificial intelligence regulation and dealmaking could significantly differ depending on who wins the election.
Overall, the outcome of the election will have wide-reaching implications for various industries, impacting everything from tax rates to consumer protections and regulatory environments. The choice between a Trump or Harris administration could shape the future of corporate America in significant ways.
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