CCJ Digital By Jason Cannon November 2, 2020 According to data from the Federal Election Commission, trucking’s political dollars heavily favor a Trump re-election. Whether it’s the clash between Republican incumbent President Donald Trump and Democratic challenger former Vice President Joe Biden or potential turnover in the Senate, the outcome of Tuesday’s election will impact the transportation industry. Aside from appointing a new Federal Motor Carrier Safety Administration (FMCSA) chief the winner of the upcoming election will certainly play a role in driving GDP growth in the coming term, but COVID will be riding shotgun. Increasing infection rates and a potential vaccine will weigh heavily on either a Republican or a Democratic White House. “Putting that aside for a minute, I think a continuation of the Trump Administration would be marginally better for the economy, for both the consumer economy and the industrial economy, and a lot of that stems from the fact that Mr. Trump is not a conventional politician,” said John Larkin, Clarendon Capital Operating Partner. “He comes at it from a different perspective and understands that a lower income tax rate – a lower capital gains tax rate – stimulates a lot of investments. Investment stimulates a lot of economic activity [and] more jobs are created.”
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