At SBN, we believe that understanding the shifting political landscape is essential for values-driven businesses to stay ahead. That’s why we were excited to host our Post-Election Briefing in late November: How 2024 Election Outcomes Impact Business & Climate Resilience. The webinar, led by Jason High and his team at Ridge Policy Group, offered a deep dive into how the recent election results may impact small businesses, climate resilience, and our regional economy. Whether you’re curious about policy shifts or looking to prepare your business for what’s to come, this recap covers the key takeaways and tips shared during the session.
If you missed the webinar or want to revisit the content, you can watch the full recording here or review the slide deck here.
Election Outcomes and Policy Highlights
The 2024 elections led to significant political shifts, including unified Republican control of Congress. The Trump Administration’s agenda includes a blend of deregulatory measures and a re-evaluation of climate and energy policies, including:
- Energy and Climate Policies: Plans to scale back on clean energy investments and emissions standards while boosting traditional energy sources like oil, gas, and coal.
- Inflation Reduction Act (IRA): Efforts to weaken provisions of the IRA supporting renewable energy and sustainable infrastructure.
- Tax Policy: The continuation of the Tax Cuts and Jobs Act (TCJA), with a focus on permanent corporate tax cuts and modifications to research and development (R&D) expenses.
- Trade and Supply Chains: Increased tariffs on imports, potentially impacting supply chain costs and accessibility.
What This Means for Businesses
Small and independent businesses, especially those committed to sustainability like SBN’s members, should anticipate changes that might impact their operations. While deregulation may lower compliance costs, cuts to clean energy funding and changes to tax credits could hinder growth opportunities for values-driven businesses.
Tips for Businesses to Adapt and Thrive
- Build Relationships with Legislators
Advocacy will be critical in this political climate. Engage with policymakers to communicate your business needs and concerns. Organizations like SBN can help to amplify your voice and connect you with decision-makers.
- Assess Your Energy Strategies
With potential reductions in renewable energy incentives, consider diversifying your energy portfolio or investing in efficiency measures to mitigate rising costs.
- Plan for Tax Changes
Stay updated on potential changes to the TCJA and related tax policies. Work with your financial advisors or accountants to leverage existing credits and prepare for future shifts.
- Focus on Supply Chain Resilience
Tariffs and onshoring policies may disrupt supply chains. Explore domestic, local sourcing options and invest in technologies to enhance logistics efficiency.
- Leverage Community and Resources
Join networks like SBN to access educational resources, peer support, and advocacy tools tailored for values-driven businesses navigating this transition.
Looking Ahead
The Trump Administration’s anticipated policies offer opportunities for businesses to adapt and stay nimble in this changing landscape. During the session, Jason High drove home an important point: “Building relationships with legislators and engaging through networks are essential steps to ensure your business thrives in the new landscape.”
At SBN, we’re here to help you navigate these changes and continue building a just, green, and thriving economy. Whether you’re looking for resources, connections, or advocacy support, we’ve got you covered. Visit us at sbnphiladelphia.org or reach out to us directly at info@sbnphiladelphia.org to learn more about how we can support your business in 2025 and beyond.
This SBN program is a part of Every Voice, Every Vote, a collaborative project managed by The Lenfest Institute for Journalism. Lead support for Every Voice, Every Vote in 2024 and 2025 is provided by the William Penn Foundation with additional funding from The Lenfest Institute for Journalism, Comcast NBC Universal, The John S. and James L. Knight Foundation, Henry L. Kimelman Family Foundation, Judy and Peter Leone, Arctos Foundation, Wyncote Foundation, 25th Century Foundation, and Dolfinger-McMahon Foundation. To learn more about the project and view a full list of supporters, visit www.everyvoice-everyvote.org. Editorial content is created independently of the project’s donors.
