With just a few months until the next presidential election and Kamala Harris emerging as the leading candidate to replace Joe Biden as the Democratic nominee (Biden dropped out in early July), many questions have arisen about what happens next and what will happen if Harris wins the election.
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The outcome is still unclear, but Harris' position is strengthening by the day. Recent polls have shown her to be about as popular as Republican candidate Donald Trump, and she is even leading him in some battleground states.
So what would happen if Harris were to become the next president? Jim Cramer, host of CNBC's Mad Money show, predicted that Harris would be an absolute boon for both American business and the stock market. Here's why Cramer thinks so: Also, check out Cramer's top 10 tips for spending your money.
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Harris' policies may be better for megacaps
When asked in an interview with CNBC's Carl Quintanilla whether Harris would be a “pure positive” for companies, Cramer said, “There's no question about it. What she brings to the table is an understanding of the mega-cap brilliance that Biden didn't want to be associated with.”
When President Biden was still running for president, he took a much more aggressive stance against corporate America. In particular, he emphasized the importance of “taking on big money interests to protect workers and consumers,” Rebecca Picciotto wrote in a CNBC article.
Cramer believes Harris' replacement will provide an opportunity to “soften that rhetoric.”
As reported in another CNBC article, Cramer said, “If you're looking to invest in technology, you want a world where technology has a voice in Washington, not a world where its vocal chords are cut off under Trump or silenced under Biden.”
Cramer believes Biden's take was that “big business is bad business,” but that Harris could take a “more nuanced approach” to business and improve communication with big tech companies.
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Harris' policies could also be a boon for international organizations.
Cramer said Harris is a “true believer in globalization,” meaning her policies could be far more favorable to international organizations than those of Trump and his running mate, Sen. J.D. Vance.
Cramer said Vance is a strong advocate for small businesses based in the U.S. If Trump wins the election, it could create problems for many global companies, including U.S. companies that operate in other countries.
“The Trump-Vance combination leaves no doubt: the old-fashioned free-market Republican Party has been destroyed,” Cramer said. “Instead, we've seen an America First retreat from the world, with all the money and industry staying in the U.S., tariffs going up, and the government making it much harder for companies to move operations overseas.”
But a Harris win could have a positive impact on these large international companies, as well as the individual investors who own them.
“If you own a lot of stock in international companies and want to vote for your portfolio, Harris is more likely to help you than harm you,” Cramer said. “That's something you can't say about anyone else.”
Harris' Remarks on Entrepreneurship and Small Business
During a speech late last year, Harris spoke several times about American small business owners and entrepreneurs and her and Biden's goals to help them.
“America's economic future is bright,” she said. “President Biden and I will continue to fight to move our country forward, and that includes supporting small business owners and expanding access to capital.”
The Biden-Harris Administration has pledged to support American workers, create millions of jobs, lower unemployment, expand access to capital for small business owners, and strengthen the overall economy – all while supporting these companies and entrepreneurs.
You can read the full details of what Harris said in the official report, but suffice it to say that if Cramer's prediction is correct and the past three and a half years are any indication, Harris will very likely be an overall positive for the company.
Editor's note on election coverage: GOBankingRates is nonpartisan and aims to provide objective coverage of all aspects of the economy and balanced reporting on financial news with a political focus. For more coverage on this topic, please see here.: I'm a self-made billionaire: 5 reasons why President Trump is a good way to build wealth.
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This article originally appeared on GOBankingRates.com: Jim Cramer Says Kamala Harris Would Definitely Be Good for Business — Here's Why
