Election Update
November 6, 2024
It’s the morning after Election Day, and surprisingly, we know the outcome of the 2024 Presidential race. In this month’s First Week video, Walter discusses the last 24 hours and how the implications will be felt over the next days and months.
In this month’s video:
- Election Results & Political Volatility: This election marks the ninth of the last ten where voters replaced the party in power, a trend we haven’t seen in the US since the Reconstruction era.
- Policy Implications for 2025:
- Tax Cuts and Jobs Act: If Republicans control the House, they may work to extend these cuts early in 2025. Otherwise, Democrats would likely delay action until later in the year.
- Debt Ceiling: The U.S. is projected to hit the debt ceiling by January 1. While funds could sustain government operations until August, Congress must eventually address the proverbial elephant in the room.
- Potential Executive Orders: Early executive action may focus on immigration, possibly tightening border control, and energy policy, where regulations could be eased, particularly for liquefied natural gas (LNG) production.
Greenwood Capital is an SEC-registered investment advisory firm. This material has been prepared for information purposes only, is not intended to provide, and should not be relied on solely for tax, legal, or accounting advice. Subtitles are automatically generated.
