The Rising Support for Kamala Harris Among CEOs: Insights from the Business World

While the announcement of Kamala Harris as the presumptive Democratic nominee for President has sparked excitement amongst party members, an intriguing shift is happening in the business community. Many chief executives, traditionally cautious about politics, are finding themselves energized by her candidacy. Compared to the absence of support for Trump from Fortune 100 CEOs and the lukewarm enthusiasm for Biden’s re-election, it’s clear that Harris’ centrist governance style, collaborative approach, and focus on constructive problem-solving resonate well with business leaders.

1. The Rule of Law: A Key Business Principle

Business leaders across sectors from AI to life sciences prioritize the rule of law. One often-cited opinion from a Republican-supporting CEO encapsulated this sentiment: "Business leaders prefer to invest where there is the rule of law, not the law of rulers." As a former prosecutor, Harris is seen as unlikely to indulge in the kinds of politicized interventions that characterized Trump’s presidency. Her history suggests a commitment to maintaining integrity in regulatory processes, devoid of personal vendettas or political favoritism.

2. Measured Antitrust Enforcement

Harris’ record as California Attorney General indicates a balanced approach to antitrust enforcement. With a focus on promoting business growth, she warned against "shortsighted" regulations that stifle innovation. Business leaders were alarmed by Trump’s weaponization of antitrust laws for political gain and the perceived overreach seen during Biden’s administration, spearheaded by figures like Lina Khan. The business community anticipates a reevaluation of antitrust policies under Harris, moving towards a more constructive framework.

3. Balanced Regulation for Innovation

Despite common perceptions of resistance to regulation, many business leaders advocate for fair and balanced regulatory frameworks. Irving Shapiro, former CEO of DuPont, noted that most businesspeople understand the necessity of meeting societal needs. Under Harris, there is an expectation for collaborative regulatory efforts, especially concerning critical sectors like Big Tech. Her history of engaging industry executives indicates a willingness to create regulations that protect society while avoiding undue hostility towards businesses.

4. Trade Policies for Stability

As a major player in global trade, the U.S. business community is wary of protectionist measures, such as Trump’s proposed tariffs, which could drastically affect inflation and economic stability. Understanding these implications, Harris is likely to advocate for trade policies that balance national security concerns with the necessity of global market access—crucial for the tech sector leaders in California and beyond. Her insights and previous connections with the tech industry further bolster her credibility on this front.

5. Fair Taxation and Federal Debt Management

In the realm of taxation, both parties’ records have been criticized for failing to provide effective solutions, leaving a clear opening for Harris. Past efforts like the Trump Tax Cuts highlighted erratic proposals that lacked fiscal prudence, contributing to significant deficits. With the present administration aiming for responsible deficit reduction, Harris is expected to promote tax policies that support sustainable growth while addressing the federal debt.

6. Immigration as an Economic Asset

While immigration might be perceived as a weakness in Harris’ portfolio, particularly regarding border control, there is recognition of the immense economic value brought by skilled immigrants. The previous administration’s conflation of illegal and legal immigration created turmoil for American businesses. Harris’ policies celebrate the contributions of immigrants, acknowledging that a significant portion of the workforce—and by extension, the economy—depends on them.

7. All-Encompassing Energy Policy

Harris approaches energy policy with a pragmatic mindset, aiming for a balance that meets both economic needs and climate goals. In contrast to Trump’s one-dimensional focus on fossil fuels, Harris advocates for a sustainable pathway towards renewable energy, recognizing the economic realities of such transitions. Her administration is expected to promote public-private partnerships that facilitate innovation while affirmatively addressing climate change.

Harris’ candidacy is generating burgeoning enthusiasm within the business community, reflecting a profound engagement with principles that resonate across the board. CEOs see in her policies a potential alignment that could bridge the gap between economic growth and social responsibility, forging a path toward a thriving America.