On Tuesday, November 6, our Nation’s citizens will once again exercise their right to vote. Since we focus on government contracting at Oxley Consulting, we’re keeping a close eye on Congressional and Gubernatorial races across the country - because ultimately they have a great effect on budgets and thus strategic buying decisions. Five things you and your company ought to think about in the next few months before the freshly elected are sworn in:
1) Most national poles indicate Democrats taking control in the House and Republicans maintaining or slightly growing their Senate majority. A bi-partisan, bi-cameral legislature is good for America, according to our forefathers, as well as the last century of economic indicators. Encourage your employees to vote, and actively engage your legislators (Federal, state and local) in order to promote legislation beneficial to your industry.
2) 2019 will start off in Congressional gridlock and oversight investigations, but will end with the President and Congress coming together to pass several rational yet earthshaking pieces of legislation - specifically tamping down prescription drug prices and rebuilding our Nation’s infrastructure. We may see Medicare and/or Social Security reform too - eliminating benefits for the “rich” creating means testing for the lower 30%.
3) The Defense Department and Veterans Affairs will continue to be the most well funded agencies, no matter who is in charge. First, they have an outstanding funding lead on all other Cabinet agencies, but it is also political suicide to mess with either. Government contractors will be well served to transition part of their focus toward these agencies from their commercial / civilian focus. Diversify!
4) We remain very bullish on the SBA’s All Small Mentor Protege Program and the new Opportunity Zone regulations currently under scrutiny. There are more business owner Members of Congress than ever before - and thus far fewer of the typical lawyers - so look for your Congressman to start levering these key small business firestarters in order to spur further growth in their home states.
5) Twitter is not your friend. That which appears on the internet, stays on the internet.
That’s a wrap for tonight - best of luck to the most pro-business, pro-government contracting candidates out there!