Marco Julian Serrano The addition of JD Vance to Donald Trump’s campaign stirs speculation about its political and economic implications. Vance is known for populist ideas and strong economic policy. The discussion below is an analysis of changes that could occur if Trump and Vance win the election.
Issues from Wall Street and Silicon Valley
Soon after Vance was chosen as Trump’s running mate, analysts started talking with clients about possible policy adjustments. Top Wall Street officials believe that Vance’s populist reputation and knowledge of economic policy will be key in Trump’s economic plans due to his
- Anticipation of controlling Big Tech’s power and possibly revising Section 230 of the Communications Decency Act.
- Potential for changes in social media regulation, affecting companies such as Facebook and Twitter.
- Support for some aspects of Lina Khan’s ideas on breaking up monopolies such as Amazon and Google.
The potential changes could broadly impact the tech industry and online communication. The level of implementation of these policies is still uncertain.
Economic Policies and Corporate Taxes
Vance’s economic policy views are expected to be different from conventional corporate friendly methods. Although Trump is pushing for new corporate tax cuts, Vance has opposed tax breaks for corporations, particularly those using the carried interest deduction.
- Vance might target the private equity industry by eliminating the carried interest deduction, forcing PE firm managers to pay a higher tax rate on their earnings.
- There are suggestions that Vance could support more drilling and fewer green energy efforts, reversing many of Biden’s environmental policies.
- Vance has publicly opposed corporate wokeness and big banks engaging in political debates, advising them to stay out of public policy conversations.
These positions could bring major changes to how corporations manage their operations and the taxes they pay, possibly affecting different sectors’ investment and corporate strategies.
Historical Context and Ohio’s Potential First VP
If elected, JD Vance would be the first Vice President from Ohio. Even though Ohio is recognized as the “Mother of Presidents,” the state has yet to produce a vice president. This adds another significant factor to Vance’s nomination.
- While Ohio has produced multiple vice presidents, none were residents when they took office.
- Vance’s selection opens a new phase in Ohio’s political history, possibly drawing more attention to the state’s political power.
Vance’s nomination reshapes politics and boosts Trump’s appeal to voters in crucial swing states like Ohio, Michigan, and Pennsylvania.
Highlights from the Republican National Convention
Vance’s introduction at the Republican National Convention outlined the populist, protectionist, and isolationist direction of the GOP under Trump. Vance shared his life story, emphasising his working class background and aligning with Trump’s economic and nationalistic policies.
- Vance criticised multinational corporations and praised Trump for advocating for American workers.
- He opposed Biden’s international trade deal support and foreign wars, framing himself as a domestic interests defender.
- The convention clearly showed the differences between the current GOP and its past versions under leaders like George W. Bush and Ronald Reagan.
The GOP’s new direction is intended to solidify Trump’s base and draw in disaffected voters feeling neglected by globalisation and economic changes.
National Security and Foreign Policy
National security was also a focal point of the convention. Vance and others criticised Biden’s foreign policy choices, particularly the U.S. withdrawal from Afghanistan. Families of service members killed in the withdrawal gave emotional critiques of Biden’s leadership.
- Vance and other speakers claimed Biden was weak on international issues, despite their opposition to specific foreign aid policies.
- Gold Star families criticised Biden for ignoring their sacrifices, contrasting this with Trump’s personal engagement with fallen soldiers’ families.
These criticisms are part of a bigger effort to present Trump and Vance as stronger national security leaders, in spite of controversies surrounding Trump’s previous administration.
Trump’s Campaign Strategy
At the convention, Trump’s campaign aimed to improve his image to women and minority voters. Female speakers and family painted Trump as a family man and a leader who embraces diversity.
- Lara Trump, Kellyanne Conway, and Trump’s granddaughter, Kai Trump, spoke about his personal qualities and inclusivity.
- This strategy targets improving Trump’s standing with suburban women, Blacks, and Hispanics, key demographics for the upcoming election.
However, the convention also concentrated on strong culture war messages, targeting immigration policies, transgender rights, and “woke ideologies.” These positions aim to energize the base but could push away moderate voters.
Wrap Up
The choice of JD Vance as Trump’s running mate is transforming the political scene, with possible major impacts on economic policies, corporate taxes, and national security. As the election draws near, the role of Vance on Trump’s campaign and policies will be closely monitored by both supporters and detractors.
