Kamala Harris’ presidency could bring significant changes to several key sectors, from Silicon Valley to the oil and gas industry. As the Democratic nominee, Harris’ policies are under intense scrutiny, and her potential administration is expected to impact various industries differently. Here’s an in-depth look at what her presidency might mean.
Silicon Valley
Potential Ally for Tech
Harris, being from California, might be seen as a potential ally to the tech industry. This could be similar to the support seen during Obama’s presidency. However, her record is mixed. As California’s Attorney General, Harris took significant steps against data privacy violations but also worked with tech companies to address online issues like revenge porn.
Section 230
Unlike Biden and Trump, Harris has not pushed for revoking Section 230, the liability shield for online platforms. She did, however, support exceptions for issues like sex trafficking. Investors like Mark Cuban suggest that under a Kamala Harris presidency, the administration might be more open to business, AI, and cryptocurrency.
Oil and Gas
Stronger Environmental Stance
Environmental advocates expect Harris to take a stronger stance against fossil fuels. This could include potential bans on fracking and new drilling on federal land. The oil industry is concerned that Harris might push more aggressive anti-fossil fuel policies than Biden, significantly impacting their bottom line.
Wall Street and Taxes
Consumer Protections
Harris has a history of taking on big banks and advocating for consumer protections. This suggests a continuation of Biden’s policies. Some corporate Democrats and financiers believe Harris may govern as a centrist and be less isolationist in foreign policy.
Tax Reforms
Harris has proposed transaction taxes on financial instruments and supports repealing Trump’s 2017 tax cuts. This stands in stark contrast to Trump’s tax policies and could signal a shift towards more progressive tax reforms.
College Affordability
Student Debt Relief
Harris has been a strong advocate for student debt relief and college affordability. Her presidency might see an expansion of these efforts. Her tough stance against for-profit colleges as California’s Attorney General suggests continued scrutiny and regulation of these institutions.
Workers
Labor Support
Harris has deep ties to labor organizations and has supported legislation like the PRO Act, aiming to strengthen worker protections. Business groups may oppose her more progressive labor policies, aligning with the broader progressive wing of the Democratic Party.
Big Pharma and Health Care
Drug Pricing
Harris is likely to continue the Biden administration’s focus on negotiating drug prices and addressing anti-competitive practices in the health care sector. There is industry concern that Harris might use march-in rights to lower drug prices, which the Biden administration has not yet exercised.
Telecom and Internet Providers
Net Neutrality
Harris has been a strong supporter of net neutrality and praised the FCC’s recent non-discrimination rules. These could see continued support under her presidency. Harris has also taken a lead on expanding broadband access, an effort likely to continue if she becomes president.
Artificial Intelligence
Civil Rights Focus
Harris has emphasized the importance of ensuring AI is used in a non-discriminatory and safe manner. She is expected to continue developing policies that address the public-facing risks of AI, balancing innovation with consumer protection and equity.
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