Harris or Trump: Who wins the support of big business in the US?

As they approach american elections and the battle between the presidential candidates Kamala Harris and Donald Trump worsens, large companies have begun to support their preferred candidates more openly.

The current vice president from USA, Kamala Harrisannounced his presidential campaign in July of this year, after the president’s decision Joe Biden to withdraw from the race. This left him less than four months for a full presidential campaign, which would normally take between 12 and 18 months. After his defeat in 2020, the former US president donald trump He has also returned to the presidential campaign race, to try to achieve another electoral victory.

Billionaire Marc Cuban and Sam Altman of OpenAI support Kamala Harris

Regarding the proposed policy, Kamala Harriswants to raise the corporate tax rate in the United States to 35%, compared to the current 21%. It is also expected to maintain taxes for US citizens who earn less than $400,000 (369,784.88 euros). Other notable policies include new tax credits for families with newbornsmore taxes for billionaires and a higher minimum wage. Harris has also proposed capping grocery prices, as well as policies to give unions more powers.

A massive campaign for Kamala Harris, called Business Leaders for Harris (Business Leaders for Harris), which includes a website with testimonials from small and large business owners explaining why Harris would be the best choice for businesses. These testimonies also contrast Trump and Harris. So far, some 88 current and former business leaders have expressed their support for Harris, in a letter obtained exclusively by ‘CNBC’. This list includes the co-founder of LinkedIn Reid Hoffmanto the billionaire Markcuban and the CEO of OpenAI SamAltman.

Other notable signatories are RogerAltmanfounder and senior president of Evercore, as well as Jeff Bewkesformer CEO of Time Warner, and Ken Frazierformer executive chairman, president and CEO of Merck. Chad Giffordformer president of Bank of America, and Bruce Heymanformer US ambassador to Canada and former managing director of Private Wealth at Goldman Sachs, were also signatories, among others.

The letter, as reported by ‘CNBC’, said: “We support the election of Kamala Harris as President of the United States. Your election is the best way to support the continued strength, security and reliability of our democracy and economy. With Kamala Harris in the White Housethe business community can trust that it will have a president who wants American industries to prosper.”

“As a partner of the president Bidenthe vice president Harris has a strong record of promoting measures to stimulate business investment in the United States and ensure that American companies can compete and win in the global marketplace. Will continue to promote fair and predictable policies that support the rule of lawstability and a strong business environment, and will strive to give every American the opportunity to pursue the American dream.”

As for why he thinks Harris would be better for business, Hoffmann declared in an interview with the ‘Wall Street Journal’: “Tariffs and trade wars are terrible ideas for companies, terrible for Silicon Valley. I think stability and trying to really have institutions and a Rule of Law are more important than a 2% cut in a tax rate.” He also noted that several Silicon Valley founders and entrepreneurs had already met with Kamala Harris. Her mention of tech company founders in her acceptance speech could also boost your confidence in her.

Tech World Considered Resilient Enough to Handle Trump’s Victory

However, Hoffmann also believes the tech sector is resilient enough to recover even if donald trump win the next election. Aaron Levieco-founder and CEO of Box, and another Harris supporter, said in a post on X (formerly known as Twitter): “We need a president who believes in the unique role of startups in the economy, in the incredible talent of immigrants, in the need to continue research in the public sector, in the need to lead the Artificial Intelligence (AI) and advanced technologies and manufacturing, and someone who can thoughtfully coordinate with global partners.”

“What we don’t need is a president who creates a daily deluge of distractions and changing policies, starting culture war fights that require unsustainable levels of attention, or being surrounded by conspiracy theorists who drain our collective energy and productivity.”

Marc Cubancurrent minority owner of the Dallas Mavericks, also said in an X post: “Kamala Harris is not aligning herself with the policies of the Democratic Party. Kamala Harris is defining her own policiesand the Democratic Party is aligning itself with it. “He’s literally redefining the game.”

Elon Musk and Peter Thiel among Trump supporters

Some of the policies proposed by trump They include tax cuts that could amount to billions of dollars, as well as a boost to energy production and oil extraction in the United States. trump has also presented plans to increase tariffs, both on imports from China as from other countries.

He has also promised to lower interest rates, although the president has no influence on them, as well as prohibit mortgages for undocumented immigrants.

Some of the big business names supporting Trump areElon MuskCEO of Tesla and SpaceX, who has made clear his firm support for the former president through a series of publications in X for several months and appearing with him in the campaign.

Other names are Dana WhiteCEO and president of Ultimate Fighting Championship. In July of this year, at the Republican National Convention, White also introduced Trump. The co-founder of Palantir Technologies, peterThiela big supporter of Trump in the 2020 election, had previously shared last year that he would not promise any money to any presidential campaign runners this year. However, the business leader could now lean towards Trump, after the latter chose J.D. Vance as a running mate this time, according to ‘The New York Times’.

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The billionaire hedge fund manager Bill Ackmanfounder and CEO of Pershing Square Capital Management, also expressed his support for trump on X, saying: “Nowadays, when you announce your intention to support Trump, Trump supporters Biden Those who know me tend to assume that I have lost my mind. “I assure you that I have made this decision carefully, rationally and based on as much empirical data as possible.”

Shaun Maguirea Sequoia Capital partner in the seed/early team, also supports Trump and has already donated $300,000 (277,312.50 euros) to his campaign. In an article published in X detailing the reasons for his support, he states: “Raise your voice. Don’t let them silence you. Freedom of speech is worthless if you are afraid to use it. “We can’t let cancel culture win.”

“There is no better country in the world than the United States. But USA has had a bad decade. USA It has been blessed with a robust constitution, abundant natural resources and diverse people. The way out of here is by focusing on our strengths, which are liberalism and hard work. We have to start building again.

“Best of luck to President Trump.”

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Other business leaders supporting Trump in this election are Doug Leoneformer managing partner of Sequoia Capital, Davidsaksformer chief operating officer (COO) of PayPal and Dave Portnoyfounder of Barstool Sports. Gemini co-founders Tyler and Cameron Winklevossthey also support trump.