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UNL professor says economic effects of new president still to be seen
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UNL professor says economic effects of new president still to be seen

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One thing is certain about the Joe Biden presidency: It will be much different, from a policy standpoint, than Donald Trump's time in office.

One of the areas where differences will be most stark is in economic policy. Biden will likely pursue policies that favor higher taxes, especially on wealthier people, and more regulation, especially when it comes to traditional energy industries such as oil and coal.

How those policies will affect Nebraska, which has done better than most of the rest of the nation over the past year, are yet to be seen, said Eric Thompson, director of the Bureau of Business Research at the University of Nebraska-Lincoln.

Also unknown, he said, is whether President Biden will be able to slow the spread of COVID-19 and end the pandemic more quickly. A quicker end to the pandemic will mean a faster economic bounce-back.


Eric Thompson

When it comes to regulations, Thompson said there will be stricter regulation of traditional industries under Biden compared with Trump but less regulation of technology industries.

Trade restrictions, which have hit Nebraska agricultural hard, are likely to be more limited under Biden, Thompson said, and he believes there will be faster growth in the labor force and customer base because of greater legal immigration.

— Matt Olberding


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Matt Olberding is a Lincoln native and University of Nebraska-Lincoln graduate who has been covering business for the Journal Star since 2005.

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