Deep Dive into the 2024 US Elections – Thematic Intelligence

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Deep Dive into the 2024 US Elections Thematic Report Overview

In the most anticipated political event of the year, the US presidential elections will see Joe Biden and Donald Trump battle for America’s vote. Election coverage has largely focused on each candidate’s unfavorable traits and left little room to discuss the implications should they win. Given the inevitability of change, businesses must understand the domestic and foreign implications of the November elections and start strategic planning now.

This report on the 2024 US Elections provides an overview of the domestic and global implications of a second term in the White House for either Joe Biden or Donald Trump. It also explores how the Senate and House of Representatives election results will impact the President’s ability to fulfill their respective campaign promises.

Key Candidates ·       Joe Biden

·       Donald Trump

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2024 US Elections Overview

The US economy is more resilient than people believe and will likely be mostly unaffected by the outcome of the presidential election (barring a contested election that is not quickly resolved). The economy will be most impacted by a united government (meaning one party wins the majority in the House, Senate, and White House). A united government increases risks to business investment due to increased regulatory changes from fast-paced legislative action.

Trump 2.0 will focus on tax cuts and tough protectionist policies affecting the economy, climate, social security, border security, and foreign affairs. A divided government will see Trump focus on what he can control (e.g., agency regulations, tariffs, and global affairs) over what he cannot (e.g., budgetary spending), while a Republican-majority Congress will support Trump’s more extreme protectionist and anti-climate policies. Biden 2.0 will focus on making his first-term agenda a success. In his second term, Biden will implement and oversee the multi-year investment projects he passed in his first term. These include the Inflation Reduction Act (IRA), CHIPS and Science Act, and the Infrastructure Investment and Jobs Act. The implementation will likely be heavily roadblocked by a Republican-majority Senate.

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2024 US Elections by Key Candidates

Biden 2.0: Biden 2.0 will focus on making his first-term agenda a success. In his first term, Biden passed several multi-year projects to revive US manufacturing, including the IRA, the CHIPS and Science Act, and the Infrastructure Investment and Jobs Act. These bills have been passed but are yet to be fully implemented. Biden’s FY2025 budget outlined his plan to invest in lowering family living costs and protecting and strengthening social security, Medicare, and Medicaid programs. Furthermore, Biden 2.0 will reinforce defensive coalitions with allies in Europe and Asia.

Trump 2.0: Trump 2.0 will focus on economic nationalism, tax cuts, and retribution. Trump’s policies tend to be less extreme than his campaign rhetoric. They also change regularly. His views on tax cuts, government expenditure, and abortion rights have changed over time and may change again. Trump 2.0 reverts to an America-First foreign policy.

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2024 US Elections – The Potential Impact of House and Senate Elections

The Senate (the upper chamber) and the House of Representatives (the lower chamber) make up the US Congress—the legislative branch of the US government. All new laws and changes to existing laws must be approved by Congress. The House has the exclusive power to impeach federal officers (including the President) and initiate revenue-related legislation, while the Senate is exclusively responsible for approving treaties and Presidential nominations, including ambassadors and judicial nominees.

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Reasons to Buy

  • Learn about the impact of the geopolitics theme on the 2024 US elections.
  • Understand how the 2024 US election results will shape domestic and foreign policy.
  • Grasp the different result scenarios in the 2024 US elections and how they will impact US policy for the foreseeable future.
  • Understand Joe Biden’s second-term ambitions.
  • Understand Donald Trump’s second-term ambitions.

Table of Contents

Executive Summary

What Will a Second Biden Administration Look Like?

What Will a Second Trump Administration Look Like?

The Potential Impact of House and Senate Elections

Glossary

Further Reading

Thematic Research Methodology

Frequently asked questions

  • Which are the key candidates battling for America’s votes?

    In the most anticipated political event of the year, the US presidential elections will see two generally unpopular candidates—Joe Biden and Donald Trump—battle for America’s vote.

  • What are the key agenda of Biden 2.0?

    Biden 2.0 will focus on making his first-term agenda a success. In his first term, Biden passed several multi-year projects to revive US manufacturing, including the IRA, the CHIPS and Science Act, and the Infrastructure Investment and Jobs Act. These bills have been passed but are yet to be fully implemented.

  • What are the key agendas of Trump 2.0?

    Trump 2.0 will focus on economic nationalism, tax cuts, and retribution. Trump’s policies tend to be less extreme than his campaign rhetoric. They also change regularly. His views on tax cuts, government expenditure, and abortion rights have changed over time and may change again. Trump 2.0 reverts to an America-First foreign policy.

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