PitchBook-美国总统选举指南（英）

1PitchBook Data, Inc.Nizar Tarhuni Executive Vice President of Research and Market IntelligenceDylan Cox, CFA Head of Private Markets ResearchPaul Condra Head of Emerging Technology ResearchInstitutional Research GroupAnalysisContentsPublishingDesigned by Drew SandersPublished on October 1, 2024James Ulan; Brendan Burke; Rebecca Springer, Ph.D.; Kazi Helal, Ph.D.; Aaron DeGagne, CFA; Ali Javaheri; John MacDonagh; Rudy Yang; Alex Frederick; Derek Hernandez; Jim Corridore; Jonathan Geurkink; Eric Bellomo; Robert Le; Kyle Stanford, CAIA; Tim ClarkeIntroduction1Industry and technology2Artificial intelligence & machine learning2Healthcare3Biopharma5Pharmatech5Medtech6Data analytics6Space tech7Climate tech8Fintech10Information security12Foodtech12Agtech13SaaS14Aerospace & defense 15Industrials15Mobility tech16Supply chain tech17E-commerce17Gaming18Crypto19Venture capital20Private equity21US Presidential Election GuidePolicy areas that could impact the private marketsPitchBook is a Morningstar company providing the most comprehensive, most accurate, and hard-to-find data for professionals doing business in the private markets.Introduction As the 2024 US presidential election nears, private market participants are focused on how a Democratic or Republican victory could impact the investor landscape. To give our clients a framework for evaluating possible impacts, we analyzed key potential areas of regulation and policy differences between the two parties that could impact VC, PE, and our industry and technology coverage areas, including AI, healthcare, fintech, software as a service (SaaS), and more.As we expected, our analysis found several differences between the two parties on multiple issues, many of which could lead to significant change. We also believe that interest rate policy and the path of the economy may have some of the largest impacts on markets over the next few years as they influence valuations and revenue growth. Congress will play a critical role in shaping the post-election environment, as its composition (Republican majority, Democratic majority, or divided) will determine what legislation can move forward. If one party controls both chambers, the budget reconciliation process can be used to pass certain policies with only 51 votes in the Senate. The Inflation Reduction Act (IRA) is a prime example of legislation that was passed with 51 Senate votes. But with a divided Congress, new legislation would require 60 Senate votes to overcome the filibuster, making many bills nearly impossible to pass. What is more, history has shown that when a single party wins control of both the House and the Senate, their tenure usually lasts for only two years, as the party of the president typically cedes House and Senate seats in the midterm elections.In a mixed Congress, bipartisan proposals of high importance stand the highest likelihood of receiving House and Senate support—the CHIPS and Science Act being an example. But the public will have