Two months ago, former President Donald Trump A sure win Joe Biden. According to polls and experts, the presidential election Statistical Ties To Vice President Kamala Harris.
It's a shift few expected, except perhaps for Harris herself, who has emerged as a fast and formidable candidate.
The success of the Democratic National Convention and the strong CNN interview make Harris' chances of victory seem real. And the crowd This is a scenario that more and more Americans have come to accept.
The events have prompted companies, trade groups and organisations like the US Chamber of Commerce and the Business Roundtable to rethink existing plans and develop “what if” scenarios for an America under a Kamala Harris administration. Populist stance Many in the industry are trying to find ways to align their views with hers in what is likely a less than friendly business environment.
With billions of dollars on the line, contingency plans are being reviewed, revised and reworked to accommodate different directions, with forward-thinking companies considering everything from who will lead their Washington offices to who will carry water on Capitol Hill.
At the same time, speculation is rife about what administration policies and personalities will guide the next chapter of American history. The media is already reporting on Cabinet positions and Senior Advisor Based on your current campaign role, Project 2025 By a prominent Republican.
No one knows at this point, but the fierce competition has not dampened the enthusiasm of big companies. Play the gameThat means pouring millions of dollars into campaigns, advertising and proxies promoting his views on key issues like trade, taxes, energy and the environment.
Admittedly, this is not a simple transition. High levels of anxietyCompanies are well aware that former President Trump will be relentless in his attacks. be considered disloyal.
American companies are eager for greater clarity about the policies Harris will pursue, especially. government RegulationHarris could prove more aggressive there than Biden. Markets and investors thrive on certainty, not the status quo. For now, Harris is promising neither.
Harris heralded a populist agenda guided by consumer demand and macroeconomic shifts, emphasizing law enforcement and compliance and downplaying considerations for business. If energy, oil and gas, banking, finance, telecommunications and technology companies don't comply, the consequences could be dire.
But business is pure pragmatism, which is why it can so deftly lean from one side to the other as the political winds shift. Once the votes are counted, whether it's Harris or Trump, big business will surely pivot to the center of power. With industry associations at the helm, big business knows exactly how to make the most of this opportunity and get ahead of its competitors.
For veteran Washington officials, the transition of executive power is a quadrennial event like the Olympics: an event where fortunes and fortunes are made and lost, a time of opportunity and chance both in and out of government.
The jockeying for position is already underway, with retiring lawmakers and staffers eagerly awaiting transfers, promotions and even more money, and veteran lawmakers at all levels who have spent their retirement years training and sharpening their game for moments like this.
K Street is rushing to review resumes for people with ties to Ms. Harris or her running mate, Minnesota Gov. Tim Walz. Recruiters in Washington are writing new job descriptions for promising government jobs. Law and lobbying firms are evaluating people with the right influence and connections within their own companies. Perception is as valuable as reality.
Despite the abundance of talent, choosing the right leaders is critical for businesses to navigate a changing policy environment and a tight Congress. Shifting political winds bring new expectations, campaign finances, policy adjustments and personnel changes.
Whatever the cost, that's part of doing business in Washington. The most powerful and profitable corporations play by their own rules. There are no permanent friends or permanent enemies; there are only permanent interests, especially when it comes to betting on a new administration.
Adonis Hoffman writes about business, law, and policy. He previously served in senior legal positions in the U.S. House of Representatives, the FCC, and was an adjunct professor at Georgetown University.
