Industry Voice: Biden focus on regulation could have broad impact

Efforts to achieve environmental goals may be consequential

clock • 3 min read
Industry Voice: Biden focus on regulation could have broad impact

The balance of power between Republicans and Democrats in the Senate will shape President‑elect Joe Biden's legislative agenda, determining the extent to which he can push through tax increases and influencing the size and scope of spending associated with any pandemic relief and recovery packages. 

If Republicans retain control of the Senate—which would include the Senate's committees and agenda—Biden would need at least one or two GOP senators to achieve his legislative goals.

Biden has signaled his intention to use his administration's regulatory authority to pursue many domestic policy priorities. Investors should not overlook how potential changes related to the environment, health care, and technology could affect some sectors and industries. 

Environmental Policies

Biden supports the passage of "green infrastructure" legislation to help spur the economy's recovery from the coronavirus pandemic. Throughout his campaign, Biden proposed tax credits for electric vehicles, clean manufacturing, renewable power, and energy storage projects as well as spending on electric vehicle charging stations and other infrastructure initiatives.

While a GOP majority in the Senate would limit the scope of Biden's environmental legislation, his administration's efforts to address climate change could come at the regulatory level. This approach would involve implementing more stringent environmental rules than those that President Donald Trump removed or weakened. 

 

Read More

 

Important Information

For professional clients only. Not for further distribution.

This material is being furnished for general informational purposes only. The material does not constitute or undertake to give advice of any nature, including fiduciary investment advice, and prospective investors are recommended to seek independent legal, financial and tax advice before making any investment decision. T. Rowe Price group of companies including T. Rowe Price Associates, Inc. and/or its affiliates receive revenue from T. Rowe Price investment products and services. Past performance is not a reliable indicator of future performance. The value of an investment and any income from it can go down as well as up. Investors may get back less than the amount invested.

The material does not constitute a distribution, an offer, an invitation, a personal or general recommendation or solicitation to sell or buy any securities in any jurisdiction or to conduct any particular investment activity. The material has not been reviewed by any regulatory authority in any jurisdiction.

Information and opinions presented have been obtained or derived from sources believed to be reliable and current; however, we cannot guarantee the sources' accuracy or completeness. There is no guarantee that any forecasts made will come to pass. The views contained herein are as of the date noted on the material and are subject to change without notice; these views may differ from those of other T. Rowe Price group companies and/or associates. Under no circumstances should the material, in whole or in part, be copied or redistributed without consent from T. Rowe Price.

The material is not intended for use by persons in jurisdictions which prohibit or restrict the distribution of the material and in certain countries the material is provided upon specific request.

It is not intended for distribution to retail investors in any jurisdiction.

This material is issued and approved by T. Rowe Price International Ltd, 60 Queen Victoria Street, London, EC4N 4TZ which is authorised and regulated by the UK Financial Conduct Authority. For Professional Clients only.

© 2020 T. Rowe Price. All rights reserved. T. ROWE PRICE, INVEST WITH CONFIDENCE, and the bighorn sheep design are, collectively and/or apart, trademarks or registered trademarks of T. Rowe Price Group, Inc.

More on Appointments

People Moves: Aviva and PTL announce senior hires

People Moves: Aviva and PTL announce senior hires

New head of sustainable outcomes for Aviva and PTL appoints client director

Professional Pensions
clock 19 May 2022 • 1 min read
Industry Voice: SI dilemmas — is 'E' or 'S' more important?

Industry Voice: SI dilemmas — is 'E' or 'S' more important?

Sustainable investing has become mainstream, but it’s not a perfect science, with many challenges that practitioners must face.

Robeco
clock 17 May 2022 • 2 min read
Clockwise from top left: Vicki Hayter, Simon Reddish, Sameena Malik and Ash Williams

XPS Pensions Group appoints four partners

Partner promotions come as part of 160 promotions at XPS across the UK

Jonathan Stapleton
clock 12 May 2022 • 1 min read
Trustpilot