THIS REPORT IS EMBARGOED UNTIL 1:30 PM ET ON SEPTEMBER 15, 2020 pwc.com/us/election2020
Road to Election 2020
PwC Pulse Survey — September 15, 2020 findings THIS REPORT IS EMBARGOED UNTIL 1:30 PM ET ON SEPTEMBER 15, 2020
US economy needs more stimulus even as business leaders see improved revenue prospects
US business leaders signal clear support These findings come even as a quarter 20 for more federal COVID-19-related of companies see prospects improving say their own say some type of strongly agree a stimulus. Executives uniformly see the for their own business in 2021 as a result business needs no fiscal policy action federal strategy for need for a federal pandemic response of actions taken throughout the year to further fiscal policy is needed pandemic response to bolster an emerging “two-tier” US return to growth in the new stay-at-home support is critical economic recovery. Until the US has economy. One in four respondents (28%) its COVID-19 outbreaks under control, expect an increase in company revenue the pace of jobs growth remains touch- over the next 12 months, while 56% and-go. While 20% of respondents expect decreases. PwC surveyed a total say their own business needs no of 578 US corporate leaders, including further fiscal policy support, just 3% CFOs, COOs, CHROs, and tax and risk agree that the US economy does not leaders from August 28 to September 3. need another round of stimulus. Executives across the C-suite also expect Nearly all business leaders surveyed corporate taxes will eventually rise to (95%) say some type of fiscal policy help pay for pandemic spending and that action is needed to support businesses trade restrictions will increase regardless and/or consumers. Moreover, 54% of the outcome of the US election in “strongly agree” a federal strategy November. Any change in US tax policy for pandemic response is critical to direction is being closely watched. improve consumer confidence, which continues to trend downward.
PwC Pulse Survey: Road to Election 2020 September 15, 2020 | 1 THIS REPORT IS EMBARGOED UNTIL 1:30 PM ET ON SEPTEMBER 15, 2020
Why it matters Support for pandemic stimulus
We expect prospects for reaching an Companies have a big leadership role to he US economy needs My company needs agreement on a new round of stimulus relief play if stimulus talks continue to stall. The - -related policy support - -related policy support of at least $1 trillion (Phase 4) to become focus will shift to how corporate efforts more difficult by the day as the general are supporting recovery by protecting 51 55 election nears. While there is common public health and employment. r e e r e e ground on some provisions, including relief us ess r 2 us ess r su er su er for small businesses and unemployment e S e y y y su r su r benefits, negotiations are faltering over the Policy-related complexities are spiraling. es ee es ee scope and overall cost of the legislation. Responses show expectations that the re l y re l y November election will settle some, but not su r su r all, of the questions over future direction Absent policy action, business leaders of policies that are important to business 2 in consumer-facing industries could leaders. C re e s ve C re e s ve experience significant headwinds. Consumer all fiscal policy all fiscal policy confidence remains fragile despite the levers levers upturn in economic growth. Overall, 46% of CFOs remain concerned about the financial impact of the pandemic. C 1 rel e l y su r es e S e y s ee r er el re ver r e e e e s e e ur w us ess