(DailyEmailNews.com) – In a worrying turn of events, corporate America is seemingly abandoning Republicans in favor of Democrat presidential nominee Kamala Harris.
Despite their concerns about potential negative impacts on profits from Harris’ tax-raising and restriction-imposing policies, many business leaders seem to be leaning towards supporting her.
A recent report indicates a significant shift from traditional Republican support to considering backing Harris, possibly due to her appeal among Democrat donors and influential political figures.
Republican consultant Ken Spain explained, “In a matter of weeks, the business community has gone from readying itself for a Republican-run Washington to scenario planning for a wide range of outcomes.”
He added that “Many are hedging their bets given the volatility of the political environment.”
Although her website lacks a detailed policy platform, Harris seems to be gaining tentative interest from corporate leaders who hope she might moderate some of Biden’s policies on competition and financial regulation.
Historically, significant business support has swung Republican, but Trump’s appeal among this group has waned over the years.
Jeffrey Sonnenfeld of Yale noted that Trump’s backing from Fortune 100 CEOs has been minimal.
PR firm Edelman CEO Richard Edelman highlighted the ongoing dialogue between business leaders and Harris’ team.
“If you are a CEO, what do you do now? You need to have a vigorous discussion with the policy team on the Harris side about how can [they] attract business to be partners in the future,” he said.
“I don’t think people are assuming that as it was under Biden, so it will be under Harris,” he argued.
Harris has recently been criticized for her economic proposals, particularly her proposals to address corporate price gouging and raise corporate tax rates.
She claims that her policies will help level the playing field for working people and ensure fair contributions from “billionaires and big corporations.”
Simultaneously, Trump is seeing a resurgence of support in Silicon Valley from figures like tech mogul Elon Musk and venture capitalists David Sacks and Chamath Palihapitiya, hinting at a dynamic and unpredictable election landscape.
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