Early in the Democratic presidential primary campaign, much of the debate revolved around tax, regulatory and legislative proposals deeply significant to business.
But as President-elect Joe Biden prepares to take office, the focus is instead on the more pressing tasks of fighting the Covid-19 pandemic and stabilizing the economy.
“There is a crisis going on, and that crisis has to be addressed—everything else is on hold,” says Benjamin Salisbury, director of research and senior policy analyst with Height Capital Markets.
Even so, investors and policy makers alike are looking beyond the current crisis, trying to gauge what changes the Biden administration will seek in infrastructure, climate, tax, trade, health-care, antitrust and technology policy.
Chances are good, analysts say, that the new administration will shy away from the pattern seen in President Obama’s first term, which largely sought sweeping legislation in tightly focused policy areas: financial regulation, health care and climate change.
