Ashley Davis on What to Consider for the 2024 Election

As we approach the 2024 election, businesses must be prepared for potential policy shifts, regardless of the outcome.

Here's a detailed look at key areas to watch:

1️⃣ Tax Policy: Changes are Coming
↳ Many tax breaks implemented in 2017 are set to expire in 2025
↳ Regardless of who wins, this has to be addressed.

2️⃣ Trade Policy: Reshaping Global Relationships
↳ Both parties are focusing on "America First" policies, though approaches differ
↳ Expect continued scrutiny of trade relationships, especially with China
↳ Businesses should prepare for potential supply chain disruptions and tariff adjustments

3️⃣ Technology and Data Privacy: Increased Scrutiny
↳ Bipartisan support for regulating big tech and protecting consumer data
↳ Expect stricter data protection laws, potentially similar to GDPR
↳ Prepare for increased compliance requirements and potential limitations on data use

4️⃣ Energy and Climate: Green Initiatives Gaining Momentum
↳ Regardless of the outcome, clean energy and energy access initiatives will likely expand
↳ Carbon pricing mechanisms are gaining bipartisan support

5️⃣ Infrastructure: Major Investments Likely
↳ Both parties support significant infrastructure spending
↳ Opportunities in traditional infrastructure and digital/tech infrastructure
↳ Businesses should position themselves to benefit from these investments

The key for businesses is to start scenario planning now.

Develop strategies that are flexible enough to adapt to various policy outcomes, ensuring resilience in the face of change.