How did various state residents and companies win or lose in this midterm elections?
Midterm elections are not always about the candidates who are running for seats, but also about the issues we are voting for which can have long-term social and economic impacts on our lives.
The States: Voters in Florida chose to restore voting rights to people who have served and completed their felony sentences. San Francisco voted to tax companies with revenues over $50m, to fund housing and services for the homeless. Massachusetts voters affirmed transgender rights in a statewide vote. Alabama, West Virginia and Oregon passed a constitutional amendment to recognize the “right to life” and deny public funding for abortion. Arkansas and Missouri voted to raise minimum wages statewide to $11 and $12, respectively. While Nevada voted to exempt feminine hygiene products from state and local sales taxes.
The Companies: Marijuana company, Tilray, was the biggest winner as Michigan and few other states voted to legalize marijuana for medical and recreational uses. Gunmakers embraced the split control of Congress which signals that a split government will prevent passing any meaningful gun legislation. Healthcare stocks seem hopeful as the likelihood of rolling back the Affordable Care Act has been reduced because of the Democrats winning the House, while a few states voted to expand Medicaid. Davita, a dialysis company also won big, as California voted against a proposal that would have limited how much clinics could charge customers for dialysis treatment.
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