Biden Will Win Tomorrow: What are the Implications to Business Opportunities

Biden Sector Playbook — Risk (and Opportunities) for Incumbents and Startups across 7 Sectors of the Economy

Tech

Expect more investment in R&D and technology, including 5G. and more favorable immigration policy. Proposals to reduce offshoring; higher corporate taxes; and continued tough on China trade stance

Healthcare

ACA restoration/expanding coverage; public option; drug pricing reform; government purchase of critical medical supplies; investment in R&D and technology (includes biotech); and expanding access to long-term care services in local settings

Eliminate tax incentives to produce drugs overseas; new incentives to produce drugs in America; higher corporate taxes

Energy

Net-zero emission subsidies/plans; banning offshore drilling; no new oil and gas leases on federal lands; more difficult pipeline permitting; higher corporate taxes

Consumer Discretionary

$15 minimum wage; caring economy/consumer-friendly initiatives on child care, free college, student debt relief, teacher pay, renter’s tax credit which could boost consumer spending — though higher taxes on higher-income earners may offset;

Extend unemployment insurance benefits for the duration of the training, up-skilling, and reskilling programs;

Higher corporate taxes; continued tough on China trade stance; clean energy; affordable housing initiatives

Consumer Staples

Tightening rules on what can be designated “Made in America”; $15 minimum wage; higher corporate taxes;

Caring economy/consumer-friendly initiatives on child care, free college, student debt relief, teacher pay, renter’s tax credit which could boost consumer spending — though higher taxes on wealthier would offset; more liberal marijuana policies

Communication Services

Net neutrality push; investments in R&D and technologies including 5G; enhanced broadband access; restrictive view on market concentration

Higher corporate taxes/ minimum corporate tax; more favorable immigration policy

Financials

Higher corporate taxes; potentially more scrutiny of banks/consumer lenders through regulatory appointments