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Battered by the financial meltdown, America's business community is anxiously calculating how Tuesday's presidential election will aff ect it.
nergy, pharmaceutical and telecommunications companies could face tax and other policy changes no matter who wins the White House. The outcome also could determine how well alternative energy developers, generic biotechnology companies, stem cell researchers and others fare.
Labor unions put major resources behind Democrat Barack Obama and could wind up a big winner if he takes the White House. Nuclear power and the coal industry would get a boost if Republican John McCain prevails. Obama promises to raise corporate tax rates and income taxes on families making over $250,000; McCain promises to cut corporate taxes and extend all of President Bush's tax cuts.
A look at how some could fare:
With Obama in office and an expected stronger Democratic majority on Capitol Hill, unions could achieve their top goal of making it easier for workers to organize. Labor wants to winning passage of a measure that would require companies to recognize unions once a majority of employees sign cards expressing support. The U.S. Chamber of Commerce opposes the bill. Steven Law, the group's general counsel, said the elimination of secret ballot votes "creates tremendous incentives for intimidation and harassment." But Bill Samuel, director of government affairs at the AFL-CIO, says, "We see (it) as a way to strengthen the middle class" by enabling more workers to push for higher wages and benefits. Obama has endorsed the measure; McCain opposes it.
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