- Significant U.S. policy changes are on the horizon, regardless of which party prevails in November.
- Despite the divisive rhetoric, the American political left and right have some key priorities in common.
- Infrastructure spending, lower health care costs and higher wages are largely bipartisan issues.
Roughly six weeks ahead of pivotal U.S. elections, one thing is becoming increasingly clear: Profound policy changes are on the horizon no matter which political candidates prevail.
Certain critical issues facing the nation — income inequality and rising health care costs, for instance — have reached an inflection point where Democrats and Republicans alike are proposing solutions that would have been politically untenable just a few years ago. The only questions, in my view, are how quickly policy changes will come, whether they will be sweeping or incremental, and how they will affect the U.S. economy and markets.
With those questions in mind, a multidisciplinary research team at Capital Group recently took a deep dive into the issues and reached some initial conclusions, including: