Five States That Could Face Economic Challenges If Trump Wins in 2024
The outcome of the upcoming presidential election is expected to affect the economy in various states across the U.S. If former President Donald Trump emerges victorious against Vice President Kamala Harris in November, some states might benefit economically, while others could face hardships. Below, we highlight five states that may experience negative economic impacts as a result.
1. California
California, the most populous state in the U.S. and known for its progressive policies, could struggle under a Trump presidency. The state’s economy has heavily invested in the green economy, promoting electric vehicles and limiting carbon emissions. Trump’s potential rollback of these policies could hinder California’s progress.
California also employs the highest number of federal workers in the nation, according to U.S. News. Trump’s promise to cut down the federal government could threaten these jobs. Furthermore, California’s strong labor unions may face additional challenges through anti-union initiatives.
Compounding these issues, California has been greatly affected by inflation recently. An analysis from National Business Capital reveals rising inflation concerns could worsen if Trump imposes significant tariffs on imports, leading to further financial strain in the state. Economist Bernard Baumohl expressed worries that inflation might accelerate again under Trump.
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2. Georgia
Georgia has also endured inflation and, like California, has become a frontrunner in green technology initiatives. While the state could potentially benefit from a Harris presidency, continued Trump administration policies may present challenges.
Ryan Waite, vice president of public affairs at Think Big, highlighted potential economic improvements under Harris’s plan for healthcare and infrastructure. Investments in Medicaid expansion and rural healthcare might bolster the state’s economy, while infrastructure improvements would enhance logistics and transportation networks.
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3. New York
A study from the University of Maryland School of Public Policy indicates New York has made significant strides in transitioning to electric vehicles and enhancing energy efficiency. However, these advancements could falter under a Trump-led administration. New York is also anticipated to suffer from proposed cutbacks to the federal government, restrictions on labor unions, and tariff policies leading to increased inflation.
4. Pennsylvania
Pennsylvania might see some short-term gains from Trump’s commitments to enhance the natural gas and coal sectors. However, the state also ranks highly in green economy job growth and relies on numerous federal jobs, which could be jeopardized under his administration’s policies.
5. Virginia
Virginia, a predominantly blue state, shares similarities with its blue counterparts California and New York. The presence of numerous federal employees and a growing green economy could face setbacks if Trump secures another term.
Editor’s note on election coverage: GOBankingRates is nonpartisan, striving to deliver objective coverage of the economy and finance stories influenced by politics. For more coverage, see 4 States You Should Think Twice About Relocating to If Kamala Harris Wins.
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This article originally appeared on GOBankingRates.com: 5 States You Should Avoid Relocating To If Trump Wins In November
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