Posted November 11, 2020 by Thadius Daniel, Public Relations & Marketing Intern
The COVID-19 pandemic has had lasting effects on the state of Washington. Companies in our state are dealing with unusually high volumes of unemployment and customers who may feel distressed. Times are rough, and many questions arise as to what the status of our economy may be. The million dollar question, however, is how President-Elect Joe Biden will approach Washington State's economy.
Both Amazon and Boeing are dealing with their respective baggage, the former having been accused of breaking antitrust laws and the latter being slammed hard with layoffs while at the same time being in a trade war with China. Based on Biden's plans to potentially increase the taxes on corporations and the rest of the wealthy, these mammoth-sized conglomerates are faced with much on their plate as they try to regain stability.
Biden and vice president-elect Kamala Harris have also emphasized their desire to increase efforts on containing the coronavirus and aiding not just Americans in Washington State, but throughout the rest of the country. This may include sending out a second stimulus package, boosting unemployment benefits, increasing monthly Social Security checks, and much more. There are many obstacles to get past before anything is written in stone, and until then, nothing is certain and many questions remain unanswered. The thing you can bank on is that it is a new era, indeed.
Gates, D., Romano, B., & Roberts, P. (2020, November 09). Biden victory may have profound effects on Amazon, Boeing and other parts of Washington state economy. Retrieved November 11, 2020, from https://www.seattletimes.com/business/biden-victory-may-have-profound-effects-on-amazon-boeing-and-other-parts-of-washington-state-economy/
Gonzalez, O. (2020, November 09). Biden's stimulus plan: Here's what's in it, including a second check, unemployment benefits. Retrieved November 11, 2020, from https://www.cnet.com/personal-finance/bidens-stimulus-plan-heres-whats-in-it-including-a-second-check-unemployment-benefits/