Election 2008: How Will the Outcome Impact You and Your Business? November 5, 2008
The election offered three outcomes, all of which could have had a significant impact on how the federal government operates for the next two years and on your business interests.
We offer this evaluation:
Obama won with a Democratic majority in Congress, but with fewer than 60 Democratic Senators needed for a “supermajority.” This will allow the Republican minority to delay or stall (via filibuster) most legislative changes advocated by the Democrats. (Especially controversial legislative provisions like labor and employment laws that promote union activity and membership.)
If McCain had won with a Democratic majority in Congress, the government would have still been divided and the status quo would have likely continued on most major legislative issues.
If Obama had won, along with a Democratic "supermajority" of at least 60 Democratic Senators, Democrats would have been able to cut off any attempt by the Republican minority to delay or stall major legislation.
The outcome is important because of the potential impact it could have on legislation such as:
- liberalization of certain labor laws
- provisions to extend the Family Leave Act to other employers
- enactment of the Ledbetter Fair Pay Act
- ERISA changes
- significant changes in federal arbitration rules
- health care reform
- limitations on pricing in pharmaceuticals
- enhanced regulation across a number of business sectors
- strengthened enforcement of antitrust laws
- expanded application of antitrust provisions across business sectors
Nexsen Pruet will provide a more in-depth evaluation and analysis of the political outcome and its impact on our clients and respective business sectors in coming days… |
