The Weekly Brief
07-10-2024
Thought of the week
With just four weeks to go until the US election and the polls showing an exceptionally close race, a key question on investors’ minds is how the result will impact the Inflation Reduction Act (IRA). If the Democrats win the White House, we expect little to no change to the IRA. While the Republicans unanimously opposed the IRA in Congress, a Republican administration would need to balance any desire to repeal the law against the IRA-related job creation that has overwhelmingly benefitted Republican congressional districts. It therefore seems unlikely that the IRA would be fully unwound even under a “red sweep” scenario, but as discussed in our US election 2024: EMEA investor guide, electric vehicles and offshore wind power are two industries where policy could be impacted.
Regardless of the US election result, the IRA is unlikely to be fully unwound
Estimated employment growth related to the IRA, %
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