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Election Year Uncertainty: How a Biden or Trump Presidency Could Impact Industries

By Gene Balas, CFA®
Investment Strategist

As we look ahead, a question many investors may be asking in an election year would be, how would different industries be affected by either a Joe Biden administration or a Donald J. Trump administration, depending on the outcome of the election in November?  Each candidate has different views about things such as taxation and regulation of different industries, as well as specific policies aimed at benefiting certain industries in the U.S. economy.

However, before positioning our portfolio based on each presidential candidate’s views, we must remember that unless a policy is an executive order (and passes any judicial challenge), Congress must enact the legislation. And we don’t yet know what the makeup will be of either the Senate or the House of Representatives after the 2024 elections – and it is Congress that will actually draft legislation, which in turn must pass both houses of Congress and then be signed by the President.

That said, we can consider what each candidate has said on the campaign trail, and what their previous policies have been, considering we have experienced the leadership of both candidates already. more