When planning a move to a new state, it’s important to consider everything from the local tax rates to the state’s laws. But the upcoming presidential election has the potential to significantly impact life in certain states.
Check Out: Mark Cuban and Many Other Venture Capitalists Are Supporting Harris for President — Here’s Why
Read Next: 9 Things You Must Do To Grow Your Wealth in 2024
If Kamala Harris wins the presidency, you might want to change your moving plans. Based on the political policies that Harris is campaigning on, these states might see significant changes and could encounter difficult transitions if Harris takes office.
Delaware
Delaware is heavily dependent on fossil fuels. According to Commodity, as of 2022, Denver derived 96.4% of its energy from fossil fuels, and just 3.6% of its energy from renewable energy sources.
Harris has stated that she will lower energy costs and create clean energy jobs. This shift away from fossil fuels and the increased focus on clean energy could spell economic trouble for states like Delaware, where energy-related revenues help fund schools, roads, and more.
In fact, a study by Resources for the Future found that wind and solar energy make up just 2% of energy-related revenues in states like Delaware. A drop in fossil fuel prices could leave people without jobs and states with less funding.
Learn More: I’m an Economist — Here’s My Prediction for Social Security If Kamala Harris Wins the Election
For You: Trump Wants To Eliminate Income Taxes — Here’s What That Would Mean for the Economy and Your Wallet
Florida
Florida has not adopted the Medicaid expansion, per KFF. Additionally, the state has implemented a six-week abortion ban, as CBS News reported.
Harris stated that she will not allow a national abortion ban to become law, and that she will sign a bill to restore reproductive freedom nationwide. Additionally, she stated that she will protect Social Security and Medicare by taxing billionaires. She’s also been outspoken about affordable health insurance and healthcare access, including highlighting that the Affordable Care Act helped people secure coverage during the Sept. 10 debate.
Trending Now: Trump-Era Tax Cuts Are Expiring — How Changes Will Impact Retirees
Texas
Like Florida, Texas has not adopted the Medicaid expansion. Abortion is also completely banned in Texas, according to Planned Parenthood. If Harris becomes president, Texas will see many of the healthcare shifts and potential abortion law shifts that Florida would experience.
Additionally, Texas is highly dependent on fossil fuels. According to Commodity, 89.9% of Texas energy is derived from fossil fuels, while 7.1% of energy comes from renewable energy sources. If Harris fulfills her promises to lower energy costs and reduce the country’s dependence on fossil fuels, Texas could see a significant impact to its economy — and there might be a major shift in energy industry job availability.
Texas is also a low-tax, low-regulation state. Harris has stated that she will cut taxes for middle class families and that no one earning less than $400,000 per year will pay more in taxes. She also proposed rolling back Trump’s tax cuts and implementing a billionaire minimum tax, which could impact wealthy Texas residents.
Alabama
Alabama is a low-regulation state, particularly when it comes to labor law. Per the New Jersey Monitor, Alabama has implemented weaker child labor protections that make it easier for children ages 14 to 17 to work longer and later hours. Additionally, Oxfam’s 2024 Best and Worst States to Work in the US report ranked Alabama as the overall 49th worst state to work. While the state is friendly to businesses, worker protections fall short.
Harris stated that she will work to support workers and small businesses. She has pledged to strengthen unions to protect workers, according to The Guardian, and give them the ability to collectively bargain. Such actions could bring about significant changes to Alabama’s businesses.
Harris has also stated that she will follow through on the promise she and President Joe Biden made to sign the Protecting the Right to Organize (PRO) Act into law, as Forbes detailed. If the PRO Act becomes law, it would implement a nationwide ABC test to determine whether a worker is an employee or an independent contractor. The ABC test makes it much more difficult for workers to qualify as independent contractors, even if they chose self-employment.
When the ABC test was implemented in California on July 1, 2020, numerous groups of workers filed lawsuits against the state. Instead of hiring former freelancers as independent contractors, businesses ceased working with these individuals and jobs dried up.
If Harris signs the PRO Act into law, it could have a significant impact on states like Alabama, but it could also affect independent contractors living in any state.
Editor’s note on election coverage: GOBankingRates is nonpartisan and strives to cover all aspects of the economy objectively and present balanced reports on politically focused finance stories. You can find more coverage of this topic on GOBankingRates.com.
More From GOBankingRates
This article originally appeared on GOBankingRates.com: 4 States You Should Think Twice About Relocating to If Kamala Harris Wins
