Op-Ed: How Presidential Candidates’ Insurance policies Might Have an effect on Fleets – Operations
formalmode.com October 21, 2024 0


A more in-depth have a look at every candidate’s insurance policies and understanding how they’ll have an effect on fleets can assist companies anticipate, put together for, and adapt to financial modifications.
The opinions and concepts expressed on this article are these of the creator. They don’t mirror the opinions or views of Automotive Fleet.
Whereas election years will be thrilling or worrying — generally just a little of each — this 12 months has been a experience.
Political violence, sudden modifications in social gathering management, and devastation from two hurricanes have contributed to the distinctive challenges of this election cycle.
The Significance of Coverage
No matter who wins, the U.S. is more likely to see some modifications. The proposed insurance policies of presidential candidates can have a ripple impact that impacts companies, particularly these operating fleets. Each international and home coverage can have an effect on something from budgeting and labor to produce availability and revenue margins.
Whereas international coverage is a essential focus, each power and financial insurance policies additionally pose essentially the most change from one administration to a different. A more in-depth have a look at every candidate’s insurance policies and understanding how they’ll have an effect on fleets can assist companies anticipate, put together for, and adapt to financial modifications.
Fleet Ahead Convention is simply after the election! Business professionals can be speaking about what’s subsequent and the way the election outcomes will have an effect on fleets shifting ahead. Register right here!
Breaking Down Harris’s File and Insurance policies
One of the simplest ways to find out what a candidate would possibly do as soon as in workplace is to think about previous actions and acknowledged coverage positions. In her three and half years as vice chairman, Kamala Harris has made a report 33 tie-breaking votes. Whereas most had been nominations, two important votes have applied insurance policies that affected shoppers and enterprise practices.
The American Rescue Plan Act of 2021 was applied as a pandemic reduction measure. Essentially the most memorable a part of the invoice is probably going the stimulus checks despatched to people, however it additionally included funding for states and tribal governments to help small enterprise credit score enlargement packages that ship loans or investments to eligible small companies, particularly these owned by socially and economically deprived people.
It prolonged present packages, created new packages to help small companies affected throughout the pandemic, and supplied funding on the state and metropolis ranges.
Regardless of its title, The Inflation Discount Act of 2022 is geared extra towards clear power than inflation. When the invoice was handed, its IRS funding turned a contentious speaking level.
Nonetheless, the invoice additionally supplied monetary help to agricultural producers and rural small companies for renewable power programs and power effectivity initiatives, created a brand new tax credit score for certified industrial clear autos which have a battery capability of a minimum of 15-kWh that may be recharged, and supplied incentives to exchange eligible medium- and heavy-duty autos with zero-emission autos. As of 2024, electrical automobile fashions utilizing elements from China have grow to be ineligible for these credit.
In relation to international coverage, the Biden-Harris administration saved Trump’s commerce tariffs in place, added a few of their very own, and spent upward of $45 billion in international assist. So what, if something, would Harris do in a different way as commander in chief, and the way would possibly it have an effect on fleets?
Financial Coverage
Per her marketing campaign web site, Harris’s financial plan contains, “Restoring two tax cuts designed to assist center class and dealing Individuals: the Baby Tax Credit score and the Earned Earnings Tax Credit score.” Nevertheless, it needs to be famous that these credit are at the moment accessible. It additionally contains, “Enacting a billionaire minimal tax, quadrupling the tax on inventory buybacks,” and growing “the tax price on long-term capital features for these incomes 1,000,000 {dollars} a 12 months or extra [to] 28 %,” actions that traditionally have brought about job loss and decrease wages because of the discount in revenue margins for companies.
For fleets, this may imply elevated working prices, as low wages and job loss negatively impression the financial system. For those who present companies thought-about luxurious or noncritical (landscaping, pest management, and even some residential contractors), a drop in enterprise could happen.
Power Coverage
In relation to power coverage, Harris will “proceed to help American management in […] clear power” and push on with the Inflation Discount Act in her dedication “to persevering with and constructing upon the US’ worldwide local weather management.” There isn’t a point out of drilling, fracking, or fuel and oil typically inside her coverage stances.
Underneath Harris, fleets might even see a continuation or strengthening of emissions rules and may have to regulate or create various gasoline automobile acquisition plans. In a latest ballot, 19% of fleets reported excessive up-front prices as a barrier to electrical automobile adoption, so preserve an eye fixed out for various gasoline tax credit.
Overseas Coverage
Harris’s marketing campaign web page doesn’t point out international assist or tariffs. Nevertheless, it’s acknowledged that she’s going to “stand with our allies” and “not tolerate unfair commerce practices from China or any competitor that undermines American employees,” indicating a dedication to each.
Ought to Harris proceed with the Biden-Harris administration’s funding of international conflicts, fleets can count on ongoing provide chain points and inflated working prices. As a result of there isn’t any data on tariff modifications, it’s troublesome to say whether or not imported items costs would improve or lower.

Whereas international coverage is a essential focus, each power and financial insurance policies additionally pose essentially the most change from one administration to a different.
Breaking Down Trump’s File and Insurance policies
As a result of Trump has already been President, the White Home archives present an inventory of previous actions, of which we’ll have a look at the identical high three as Harris: financial system, power, and international coverage.
On the financial facet, the Trump administration handed the Tax Cuts and Jobs Act, which lower not solely shopper taxes but additionally enterprise taxes and elevated enterprise deductions, which helped so as to add seven million new jobs, improve middle-class household incomes by almost $6,000, and supply a 50-year low unemployment price at 3.5%.
Though the preliminary pandemic lockdowns negatively impacted the financial system, as soon as “lockdowns ended, the financial system […] added again over 12 million jobs, greater than half the roles misplaced,” and through “the third quarter of 2020, the financial system grew at a price of 33.1 %.”
Underneath Trump’s administration, the U.S. turned the web power exporter for the primary time in almost 70 years, changing into “the primary producer of oil and pure fuel on this planet,” with pure fuel manufacturing reaching a report excessive in 2019. This helped scale back the typical household’s utility price by roughly $2,500 yearly. “Renewable power manufacturing and consumption each reached report highs in 2019,” as did nuclear power.
Whereas no new wars began underneath Trump, his administration despatched roughly $40 billion in international assist, and, as beforehand talked about, he imposed commerce tariffs on aluminum and metal. The administration additionally “negotiated greater than 50 agreements with nations world wide to extend international market entry and enhance exports of American agriculture merchandise, supporting greater than 1 million American jobs.”
Financial Coverage
Trump’s Agenda 47 whitepaper breaks down his coverage plans. Relating to financial coverage, his plan contains:
- Making the aforementioned Tax Cuts and Jobs Act everlasting.
- Lowering wasteful authorities spending, which is a significant reason behind inflation.
- Reinstating the deregulation insurance policies from his earlier time period.
He proposes to deliver main manufacturing again to the U.S. to help job progress whereas bringing “important provide chains again to the U.S., guaranteeing […] financial stability.”
For fleets, this plan might assist scale back a number of — although not all — supply-chain points when procuring substitute elements and autos and permit for elevated enterprise. It might additionally make hiring extra aggressive, which implies adjusting the payroll price range to make sure you can entice high expertise.
Power Coverage
Trump’s power coverage is a part of the spine of his financial plan, as a discount in power costs impacts all the pieces from manufacturing and manufacturing to transport, enterprise prices, and shopper spending.
In line with Agenda 47, Trump will reinstate the U.S. as “the primary producer of oil and pure fuel on this planet […] by lifting restrictions on American power manufacturing […] from all sources.” His plan contains streamlining allowing and ending “market-distorting restrictions on oil, pure fuel, and coal,” which might additionally assist improve job alternatives.
For fleets, this might imply a loosening of emissions rules that should be met and a rise in enterprise by means of lowered operational prices paired with shopper spending will increase attributable to increased disposable revenue.
Overseas Coverage
Agenda 47 outlines Trump’s objective of looking for peace by strengthening alliances and guaranteeing ally nations “meet their obligations to put money into our frequent protection,” which ties into the plan for lowering U.S. authorities spending.
Just like Harris’s plan to face with allies, Trump plans to “stand with Israel, and search peace within the Center East [through rebuilding] our alliance community within the area.” It needs to be famous that it’s unclear if rebuilding these alliances equates to sending extra international assist.
The agenda additionally contains championing “sturdy, sovereign, and unbiased nations within the Indo-Pacific [to improve] peace and commerce with others.”
As together with his final time period, Trump will proceed on the commerce tariff practice, supporting baseline tariffs on international items and responding to unfair buying and selling practices. This choice has acquired blended evaluations from inside his social gathering and a divide between economists.
Once more, like Harris, fleets can count on provide chain points and inflated working prices if funding of international conflicts continues. As a result of Trump’s stance on commerce tariffs is much like these in place throughout his first time period, assessing working prices — whereas accounting for inflation — from 2017-2020 can set a typical for what fleets would possibly be capable to count on ought to Trump return to workplace.
Value and Operational Planning
Assessing historic working prices will be an easier-said-than-done sort of scenario for fleets, who manually observe information or use spreadsheets to maintain tabs on spending.
Adopting fleet administration applied sciences can assist scale back information assortment stress whereas saving time and guaranteeing clear information. Some applied sciences, like fleet optimization platforms, enable for integrating a number of fleet and enterprise options onto a single platform for straightforward accessibility and extra strong price and operational insights.
No matter who makes it to the Oval Workplace, fleets ought to anticipate the necessity for some measure of price management, whether or not attributable to inflation, decrease enterprise, or the need for elevated payroll. The final word takeaway is to be prepared and in a position to pivot and having a fleet know-how that enables you to take action can show a sport changer.

Concerning the Writer: Rachael Plant is a senior content material advertising and marketing specialist for Fleetio, a fleet administration software program firm that helps organizations observe, analyze, and enhance their fleet operations.
This text was authored and edited based on Automotive Fleet’s editorial requirements and elegance. Opinions expressed could not mirror that of Automotive Fleet.