🚨 Harris, ⁉️ 2025, 📈Trends
Welcome Back!
The Resilient Insights Newsletter took a break in August, but we're excited to return with a jam-packed edition this month!
1 Big Thing: Decoding Kamala Harris’ Policy Agenda
Since our last edition of the Resilient Insights Newsletter, the political landscape has shifted dramatically with Vice President Kamala Harris entering the presidential race as the Democratic nominee. This development has left stakeholders, industries, and the public eager to learn more about her stance on critical public policy issues.
Why it matters: The next president of the United States will assume office at a crucial moment in American history. They will be responsible for addressing significant challenges, such as the expiring Tax Cut and Jobs Act, which we previously wrote about. Understanding Harris' positions is key for those impacted by potential policy changes.
Go deeper: Here’s 10 things we know about Kamala Harris’ positions so far:
Taxes: No tax increases for those earning less than $400,000 per year, but it's unclear if this applies to individuals or couples and whether it will be adjusted for inflation.
Child Tax Credit: Proposes restoring up to $3,600 per child or $6,000 per family for middle- and low-income families in the first year of a child's life.
Home Ownership: Proposes up to $25,000 in down-payment assistance and a $10,000 tax credit for first-time homebuyers.
Affordable Housing: Plans to provide $40 billion in tax incentives for developers to build starter homes.
Price Gouging: Advocates for a ban on price gouging by food suppliers and grocery stores to lower costs of essential goods.
Small Business Support: Aims to expand the tax deduction for start-up expenses from $5,000 to $50,000 and targets 25 million new small business applications in her first term.
Tax on Tips: Proposes eliminating the tax on tips for service workers.
Prescription Drugs: Wants to extend the $35 monthly insulin cap and a $2,000 annual cap on prescription drug costs to all Americans.
Immigration: Supports signing a bipartisan immigration reform bill into law that was negotiated earlier this year.
Fracking: Pledges she won’t ban fracking.
Bottom line: The Penn Wharton Budget Model found that Harris’ economic plans would add at least $1.2 trillion in debt over 10 years.
2: Let Resilient Partners Help You Prepare For Next Year
As mentioned above, the outcomes of the 2024 elections—for the presidency, Congress, and in the states—will have significant implications for industries, stakeholders, and the public at large. Resilient Partners is here to help you navigate these changes with tailored expertise. We offer the following services:
Scenario Planning: Prepare for every potential election outcome to ensure you’re ready to take action starting January 1, 2025.
Speaking Engagements: Get insights directly from us on what’s at stake in the 2024 elections and how it might impact your organization.
Coalition Building: Begin forming strategic coalitions now to be ready for policy challenges that may arise in 2025.
Policy Analysis: Receive comprehensive analysis of key legislative proposals so you’re equipped with the information needed to make informed decisions next year.
Message Development: Benefit from our experience in crafting a robust messaging platform, rapid response capabilities, or a crisis management plan tailored to your needs.
Bottom line: 2025 is set to be a year of significant change—make sure you’re ready.
3. Critical Developments We’re Watching 👀
De Minimis Crackdown: Senator Wyden (D-OR) introduced bipartisan legislation to reform the de minimis tariff waiver program for low-value shipments from Chinese and foreign suppliers. Learn more here.
California Passes Total Plastic Bag Ban: The California legislature passed an outright ban on plastic bags, including reusable plastic bags, that now awaits action from Governor Gavin Newsom. Learn more here.
Government Funding: It’s that time of year again where Congress needs to pass a government funding bill to avoid a government shutdown. Learn more here.
U.S. Steel & Nippon Steel Merger: President Biden is poised to block U.S. Steel takeover by Nippon Steel. Learn more here.
4. 1 Fun Thing: Resilient Partners Is Growing
And the Baca family is too.