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2020 Election: Insights for the middle market
The November 2020 U.S. election could lead to significant policy shifts across the legislative and regulatory landscape. RSM leaders are on the front lines, working across industries and engaging with policymakers to help navigate through the policy uncertainty.
Here you can read, listen to and view our latest election-related insights, and most importantly, learn about the potential impacts the outcome of the elections will have on middle market organizations. Or contact us today to discuss how your business can prepare for 2021 and beyond.
See more economic policy coverage on our blog, The Real Economy
additional election insights
Biden plans to expand Medicare, a move that the Congressional Budget Office estimates would cut drug spending by $450 billion over 10 years.
The immediate actions of the Biden administration will most likely be focused on efforts to combat the COVID-19 pandemic.
Now that Democrats’ best-case scenario in the Senate is a 50-50 split, it is safe to expect significant challenges to tax policy changes.
Biden’s victory will inevitably lead to changes at the top of key regulatory agencies, which will help him push his regulatory agenda.
Middle market consumer loan companies and loan servicers will most likely face a dramatically different regulatory environment.
With Biden’s big-ticket items such as tax changes almost certainly off the table, the focus of banking will shift to regulation.
We expect the Biden administration will bring heightened oversight of anti-competitive behaviors, and the privacy and security of data.
We expect Biden to be more supportive of free trade, even though Biden’s “Buy American” proposal does reflect protectionism.
Based on Biden’s campaign platform, long-term capital gains, currently taxed at 20%, would be taxed at ordinary income rates.
Companies should assess Biden’s pledge to invest $1.7 trillion over the next 10 years toward the goal of achieving 100% clean energy.
The new Democratic White House hopes to usher in an extended period of greater government spending.
Biden will want to strengthen and expand the Affordable Care Act; however, he could face Senate opposition.
It remains to be seen whether the transition to the Biden administration will have a significant impact on the private equity industry.
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