The future Elon Muskbusiness activities, Tesla Inc. TSLASpaceX, X (formerly Twitter), 2024 Presidential Election Results.
what happened: Business Insider Report Suggest Potential Donald Trump A presidency could bring about regulatory changes that benefit Musk’s companies.
The outlet reported that Musk has indicated his support for the former president’s 2024 presidential campaign, adding that he recently founded a political action committee that supports “meritocracy and individual freedom,” values he now associates with the Republican Party.
“Musk’s donation can be seen as an investment to eliminate government interference in his business.” Michael Gerhardt“The law is very strict and the rules are very strict,” an administrative law expert at the University of North Carolina told Business Insider.
President Trump’s proposed plans to cut corporate and personal taxes and gain control over federal regulations could work to Musk’s advantage.
As president, Trump could sign executive orders that could change federal agency policy, make hiring decisions and potentially put an end to ongoing investigations and lawsuits against Musk’s companies.
but, Securities and Exchange CommissionCongress, which has conducted multiple investigations into Musk’s companies, is legally independent from the executive branch.
But if Trump becomes president and Republicans take control of Congress, legislation could be passed that would give the president more power over these agencies.
“If Trump were in the White House, he would have control over the EPA, the head of the agency, and he could revise regulations to make it easier to get permits that meet the requirements of the Clean Water Act.” Gillian Blanchard“The same can be said about the Endangered Species Act,” said an environmental lawyer with the Lawyers for Good Government.
Why is this important: Regulatory changes under President Trump’s presidency could ease much of the pressure on Musk’s companies.
Proposed corporate and personal tax cuts could boost the financial performance of these companies.
Additionally, executive orders and hiring decisions that could change the course of federal agencies could end ongoing investigations and litigation, creating a more favorable environment for Musk’s companies to thrive.
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