With the defeat of President Donald J. Trump and the election of Joseph R. Biden as the 46th President of the United States, the chemical distribution industry can expect a much different approach to regulatory activity and enforcement as of Inauguration Day January 20, 2021.
For the first time since its expansion in 2015, there will finally be five commissioners sitting on the Surface Transportation Board (STB). This body makes critical decisions for chemical distributors and rail customers, and I’m thrilled at the prospect of having a fully-staffed board empowered to promote competition and modernize our nation’s freight policies.
With Election Day nearly two weeks in our rearview mirror, the dust has mostly settled on the 2020 election season. At the time of writing my initial assessment the day after the election, I was unable to definitely project the outcome of the presidential election, the party that would hold the majority in the U.S. Senate, or how narrow a majority Democrats would have in the U.S. House of Representatives.
We expected a close contest at the presidential level this past Tuesday and, sure enough, we still do not have a confirmed winner and might not for some time. While right away we may not know who our president will be, NACD has been reviewing the election results at the U.S. House of Representatives, U.S Senate, and state levels.
Following the 2020 election cycle, control of the U.S. Senate will be considerably more consequential than previous cycles. If former Vice President Joe Biden (D) is elected president, his ability to deliver on the progressive Democratic agenda will depend on Democrats taking control of the Senate and the margin by which they do so. If President Trump is reelected to a second term, his administration’s effectiveness depends upon Republicans maintaining control of the chamber.