Sen. JD Vance‘s elevation to vice presidential pick on the GOP ticket was puzzling to some political analysts and even conservative voters.
The announcement came as a disappointment to those hoping Donald Trump would choose a more universally appealing candidate. According to Isaac Willour, a political analyst with Young Voices, it felt “like the world’s biggest balloon was popped with the world’s biggest pin.”
Vance’s selection does not offer a significant electoral advantage for Donald Trump, who secured victory in Ohio in both 2016 and 2020. The decision may also give pause to some major business donors who have traditionally supported the GOP on crucial economic issues.
“The businesspeople who strongly support MAGA are not pleased with this decision,” stated Trish Crouse, a political science professor at the University of New Haven.
Vance has advocated for higher minimum wages, stricter immigration laws, a more isolationist foreign policy, and tougher antitrust regulations, all of which could potentially pose challenges for Wall Street.
One bank lobbyist told The Financial Times, “Trump populism and Vance populism are not the same.”
“This could create some tension for them in terms of supporting or donating to the campaign in the future,” Crouse added.
However, Willour believes that the Vance pick could energize young voters.
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“I think JD Vance represents the younger Republican voter who is concerned about social alienation and isolation, especially among young men,” he explained.
At the forefront of the ticket, Donald Trump has recently embraced cryptocurrency and is set to speak at a bitcoin conference in Nashville later this month.
This stance aligns with his new running mate, who has advocated for expanding cryptocurrency investment and exchange. He has drafted legislation aimed at revamping how the federal government regulates digital currency, taking a more industry-friendly approach than previous bipartisan legislation.
However, this advocacy could put the Trump/Vance ticket at odds with a prominent supporter, billionaire hedge fund manager Bill Ackman, who recently expressed concerns about cryptocurrency potentially leading to an economic downturn.
In 2022, Vance disclosed holding between $100,000 and $250,000 in crypto, raising questions about whether a VP pick supportive of cryptocurrency could widen the gap between big business and Trump.
“Unless Vance changes his views drastically, I’m not sure if he will be accepted by big business,” Crouse remarked.
