The 2024 election has the potential to usher in significant changes that could dramatically reshape the nation’s energy policy. With growing concerns over climate change, economic growth, and energy security at the forefront, the outcome of this election at both the presidential and congressional levels will dictate to what degree the United States pursues aggressive renewable energy initiatives, embraces new technologies, or continues to support traditional fossil fuel industries. The stakes are high with implications that extend far beyond the political sphere and regulated industries, communities, and the environment nationwide.
Vice President Kamala Harris' energy policy would largely build upon the foundations laid during the Biden administration, characterized by promoting clean energy, addressing climate change through international cooperation, advocating for environmental justice, and supporting a robust regulatory agenda to protect the environment and public health.
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In a second Trump administration, energy policy would likely continue to reflect the priorities and approaches seen during his first term, which emphasized deregulation, promoting domestic production, and reducing dependence on foreign energy sources.
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the relationship between the United States and Canada remains a cornerstone of North American stability and prosperity. However, the landscape of cross-border interactions is evolving rapidly, influenced by a combination of economic shifts, technological advancements, and environmental concerns.
Based on historical positions, we can anticipate where Republican candidate Donald Trump and Democratic candidate Kamala Harris might steer US policies on cross-border issues if elected. Congressional action will hinge on which of the parties controls the House and Senate. A divided government could lead to stalemate or compromise, impeding either party's ability to fully implement their priorities.
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This pre-election analysis from ML Strategies explores some of the key tax policy proposals put forth by former President Donald Trump and Vice President Kamala Harris as they seek the presidency and highlights what we can expect on Capitol Hill from key leaders on tax policy in the 119th Congress.
Whether you’re a concerned taxpayer, a business owner, or just interested in how politics might affect your organization’s financial landscape, understanding these tax policy debates is crucial as you prepare for the future.
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The next administration and the 119th Congress have the potential to shape the future of the Affordable Care Act (ACA), Medicare (including the new Medicare drug price negotiation program), Medicaid, abortion and contraception rights, pharmacy benefit manager (PBM) reform, and health equity issues, among other issues.
This pre-election analysis from ML Strategies explores the different health care priorities that may be pursued by the next administration and 119th Congress.
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International trade has emerged as a pivotal issue, with presidential candidates Vice President Kamala Harris and former President Donald Trump navigating a complex web of global trade dynamics, from shifting supply chains and geopolitical tensions to emerging markets and trade agreements as they make their case for election. Engaged voters will be keenly aware that the approach taken by the winner of the presidential contest will have profound implications not only for the US economy but also for the nation’s standing in the global arena.
In this installment of ML Strategies’ Pre-Election Analysis series, we will delve into how international trade is influencing the electoral debate, examining the presidential candidates' positions as well as the trade priorities of the two political parties on Capitol Hill as they vie for control of the US Senate and US House of Representatives in the 119th Congress.
The Vice President has expressed a desire to build strong alliances and collaborate with international partners. And if elected, we may see her seek to resolve trade disputes through negotiation rather than escalating tariffs as Donald Trump has proposed.
If Donald Trump is reelected president, his second term would continue his “America first” approach to international trade, marked by unilateral actions, aggressive negotiation tactics, and a focus on reducing the trade deficit and protecting US industries. His policies would emphasize nationalism and protectionism, with less attention to multilateral cooperation and environmental issues.
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We join with our partners in the Public Finance Practice at Mintz to discuss the potential implications of the 2024 general election for infrastructure policy for the incoming presidential administration and 119th Congress.
Vice President Harris can be expected to stake out positions on infrastructure policy that continue and expand upon the goals of the Infrastructure Investment and Jobs Act (IIJA.) The Biden-Harris $1.2 trillion IIJA authorized spending over a five-year period, starting in fiscal year 2022 and extending through September 30, 2026. A top priority for a Harris administration would be any remaining unspent funds after September 30, 2026, would need to be reauthorized or addressed through new legislation.
The Donald Trump administration would focus his infrastructure development priorities through the lens of streamlining regulations, public-private partnerships aimed at leveraging private sector investment in infrastructure, energy infrastructure, and border infrastructure with a priority on strengthening barriers and surveillance systems as part of his broader immigration policy.
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Like other spheres of federal public policy, consumer product safety laws and regulations could be profoundly impacted by the upcoming November elections. A Congress controlled by one party will likely have a very different legislative agenda than one that is under divided control. Moreover, whoever sits in the White House will likely determine the regulatory and enforcement posture of the US Consumer Product Safety Commission (CPSC or Commission), which is shaped by the political makeup of its five presidentially appointed, Senate-confirmed commissioners, including the chair of the Commission.
With both the House of Representatives and Senate under razor-thin margins of partisan control, the likelihood of one or both bodies flipping is highly probable in November. If Democrats win control of the House and Republicans take back the Senate, the legislative agendas of each body will likely change, though the ultimate legislative outcome is not likely to differ greatly from the current state of a divided, largely gridlocked Congress.
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Under the CPSA, the five commissioners are all presidentially appointed and Senate-confirmed; by law, no more than three commissioners can be affiliated with one political party. Because the commissioners’ seven-year terms are staggered, the party in control of the White House strives to (eventually) control the CPSC by a 3-2 margin through presidential appointments, subject to the Senate’s confirmation process, which has become increasingly partisan and contentious over the years.
Read More About the Consumer Product Safety Commission and Enforcement/Compliance Actions in a Harris or Trump Administration
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Financial services encompass a wide range of services offered by the nation’s financial institutions, including banking, mortgage, investment, and credit services. The next administration and Congress’s financial services policies and priorities will shape the landscape of financial services in the US for the coming years, affecting Wall Street investors and aspiring homeworkers alike.
Vice President Harris has yet to release detailed financial services policies, but her priorities and accomplishments as a senator and in the Biden administration indicate that, if elected in November, she would push for stronger rules and regulations for banks and other financial institutions while also working to increase access to capital for aspiring homeowners and advance myriad consumer protection initiatives.
During his presidency, Trump championed efforts to deregulate banks and other financial institutions, ease restrictions for lenders, and make it easier for borrowers to access credit on the grounds that onerous regulations and red tape stifle economic growth. A second Trump administration would likely aim to roll back many of the Biden administration’s recent efforts to regulate banks and lenders and protect borrowers.
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