Weekly Wrap: T-Minus Four Days Until Election Day

What happens regardless of the election outcome? Taxes, tech restrictions, and less regulation. 

The 2024 presidential election is only a few days away, and while markets have been hyper-focused on the immediate outcome, we encourage investors to look beyond the immediate political contest and consider the policy landscape likely to emerge regardless of the election outcome:

• Taxes: The returning debt limit (January 1) and the expiration of the individual provisions of the 2017 tax changes (December 31) will be dominant themes regardless of the election outcome.

  
  

• Regulation: Four years from today, there will be less regulation following the overturning of "Chevron deference,” which will limit the ability of regulators to push the limits of their authorities.

• Tech restrictions: Restricting key technology from being sold to China has bipartisan support and will continue regardless of the election outcome.

Treasury finalizes outbound investment screening rule.

The Treasury Department released the final rule implementing the Biden administration's 2023 outbound investment screening executive order (EO). The final rule places new restrictions on U.S. persons making certain transactions (including the acquisition of equity interests, certain debt financing, greenfield investments or corporate expansions, joint ventures, and certain LP investments, among others) in certain national security technologies in China, with covered technologies either subject to investment prohibitions or notification requirements