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The 2024 US presidential election race is still too close to call, but it’s not looking great for Kamala Harris and the Democrats. I just wrote about the $988 billion in commitments from private companies that are associated with bills signed into law by Joe Biden — the American Rescue Plan, Bipartisan Infrastructure Law, CHIPS and Science Act, and the Inflation Reduction Act. There are also enormous public investments coming from these policies and programs.
Naturally, if Harris wins the election, all of these projects will go forward, and more will roll in. However, what if Harris loses?
I’m not clear what the answer is. Republicans control the House of Representatives and it seems to have taken control of the Senate. Will they repeal the American Rescue Plan, Bipartisan Infrastructure Law, CHIPS and Science Act, and/or the Inflation Reduction Act? It’s hard to know. Policies like these have been discussed almost not at all during the campaign season. House Speaker Mike Johnson was asked about whether they’d repeal the CHIPS Act the other day and indicated they hadn’t thought much about it but probably. That’s about all we have to go on.
If any of these are repealed, or if a Trump Cabinet just decides to not go forward implementing them well, how much could those nearly $1 trillion in private sector commitments fall through or disappear?
Increasingly, it is looking like these are questions we will need answers to, and it may be months before we have answers.
Let us know down in the comments if you think you have answers and why.
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