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 left those hoping for a more popular candidate feeling disappointed, with Isaac Willour, a political analyst with Young Voices, describing it as “like the world’s biggest balloon was popped with the world’s biggest pin.”
Vance’s selection doesn’t necessarily provide a strong electoral advantage for Donald Trump, who previously won Ohio in both 2016 and 2020. This choice may also give pause to big business donors who typically support the GOP on crucial economic matters.
“The businesspeople aligned with MAGA are not pleased with this decision,” said 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, potentially creating challenges for Wall Street.
One bank lobbyist told The Financial Times, “Trump populism and Vance populism are not the same.”
“This could cause some tension for them when it comes to supporting the campaign financially in the future,” Crouse added.
However, Willour believes that the Vance pick could attract young voters.
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“I think JD Vance represents the younger Republican voter who is concerned about the social alienation and isolation, especially among young men,” he stated.
At the forefront of the ticket, Donald Trump has recently embraced cryptocurrency and is set to attend a bitcoin conference in Nashville.
This aligns with his running mate’s support for opening cryptocurrency investment and exchange. Vance has drafted legislation to revamp federal regulation of digital currency in a more industry-friendly manner compared to previous legislation.
However, this advocacy may lead to disagreements with prominent backer Bill Ackman, a billionaire hedge fund manager who has expressed concerns about the potential economic risks associated with bitcoin.
Vance disclosed holding between $100,000 and $250,000 in crypto in 2022, raising questions about whether a crypto-friendly VP pick could widen the gap between big business and Trump.
“Unless Vance alters his views dramatically, I’m not sure if he will be embraced by big business,” Crouse remarked.
