How Musk & Trump Could Launch These Stocks Higher

Tesla (TSLA) stock has surged. But the real opportunity? Musk's AI venture, xAI. With Trump's presidency, xAI could soon lead the AI race, backed by strong government connections and fewer regulatory barriers. This powerhouse collaboration could fuel massive growth in the AI sector, and xAI may become Elon's biggest company yet.

Trump Taps Teamsters-Backed Chavez-DeRemer For Labor

Nabaparna Bhattacharya
November 23, 2024

Rep. Lori Chavez-DeRemer (R-Ore.), a moderate who lost her House seat this month, has been selected by President-elect Donald Trump to lead the Labor Department in his new term.

Trump praised Chavez-DeRemer, who first won her seat with just 51% of the vote in 2022 and lost it by a two-point margin this year, for her work with both business and labor groups to support American workers, The New York Times reports.

Following Trump’s announcement, National Education Association President Becky Pringle acknowledged Chavez-DeRemer’s legislative record in the House, per a report from AP News.

However, Pringle indicated that educators and working families would closely monitor the confirmation process and hoped Chavez-DeRemer would commit to supporting workers and students.

Also Read: Chamath Palihapitiya’s Suggestion For Donald Trump: ‘Make Paying Taxes Simple And Enforcement…’

Though not a major figure in labor politics, Chavez-DeRemer garnered significant union support during her campaign. She shared endorsements with her Democratic opponent, Janelle Bynum, earning the backing of groups like the Teamsters, firefighters, and ironworkers.

House Speaker Mike Johnson, who spoke at one of Chavez-DeRemer’s rallies, remarked that she received more union endorsements than any Republican he had ever seen, The New York Times added.

While labor leaders criticized Trump’s labor policies during his first term, Chavez-DeRemer’s selection was praised by some in the labor movement. Sean O’Brien, president of the Teamsters, who had been in contact with Trump throughout the campaign, called her appointment a step toward creating more union jobs. Chavez-DeRemer, whose father was a Teamster, has emphasized her work on the fentanyl crisis and law enforcement during her campaign.

As labor secretary, Chavez-DeRemer will face the challenge of possibly reversing Biden-era policies, which focused on expanding worker protections, including new overtime eligibility and protections for gig workers.

Under Trump, it’s expected that many of these measures could be rolled back, alongside stricter enforcement of child labor laws and worker classification regulations, per The New York Times.

The Labor Department’s approach to immigrant workers and workplace safety could also shift, reflecting the broader policy changes anticipated under a second Trump term.

Read Next:

  • Donald Trump's DOGE Initiative To Have ‘Marginal Impact' Says Analyst As Elon Musk Aims To Target Over $500B In Federal Expenditures

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Image: Wikimedia Commons

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