With the U.S. election less than a month away, the outcome could have significant implications for various industries. If former President Donald Trump wins a second term, he is expected to push for lower corporate taxes and less regulation. In contrast, Vice President Kamala Harris has endorsed raising the corporate tax rate, potentially impacting businesses. The winner of the election will have the opportunity to make key appointments that will shape policies for sectors such as airlines, banks, electric vehicles, healthcare, media, restaurants, and tech giants.
For airlines, the outcome could affect consumer protections and industry consolidation. Banks are facing new regulations under the Biden administration, which could change if Trump is reelected. The EV industry is in limbo as Democrats and Republicans have differing views on EVs. Healthcare costs and prescription drug prices are major concerns for both Harris and Trump. Media executives are closely watching potential mergers amid a changing regulatory environment. The tech industry faces challenges with artificial intelligence and cybersecurity regulations, with potential changes depending on the election outcome.
Restaurants could see changes in taxes on tips under either administration. Harris plans to eliminate taxes on tips for workers making $75,000 or less, while Trump’s plan is less clear. The tech sector is also grappling with issues related to artificial intelligence and cybersecurity, with potential changes depending on the outcome of the election. Ultimately, the policies of the next administration will have wide-ranging impacts on various sectors of the economy.
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