This week’s midterm U.S. elections marked a major victory for Republicans in the Senate. The GOP now controls both chambers of Congress. This could be good news for U.S. business — but not for the obvious reasons.
Conventional wisdom might suggest that the business-friendly Republican party will use their influence to repeal or scale back many regulations and programs unpopular with U.S. businesses, such as the Dodd-Frank Wall Street Reform and Consumer Protection Act, the Affordable Care Act, efforts to curb tax dodging deals, and restrictions on drilling for oil in protected areas.
However, it is unlikely that the GOP will do nearly as much on this front as executives might think.
While regulations and restrictions are usually viewed unfavorably by businesses, the public often perceives them differently. Dodd-Frank, for example, is onerous for banks but seems to be popular with many Americans, who understandably want protection against the type…
View original post 754 more words