By The Dot News
In a historic U.S. presidential election, Republican Donald Trump secured pivotal wins in North Carolina and Georgia, tightening Kamala Harris’s path to the presidency. According to Edison Research, Trump now holds 246 Electoral College votes, compared to Harris’s 182, leaving her with a narrow chance to claim the presidency through Rust Belt states Michigan, Pennsylvania, and Wisconsin. To win, a candidate must garner at least 270 Electoral College votes.
Republicans Gain Senate Majority Amidst Uncertain House Control
Trump’s victory isn’t limited to his personal race; Republicans also secured a U.S. Senate majority by flipping Democratic seats in West Virginia and Ohio. However, control over the House of Representatives remains highly contested, with Republicans holding a narrow majority heading into election day.
A Political Comeback After January 6, 2021
Trump’s journey to this point has been remarkable, especially after the events of January 6, 2021, when many speculated his political career was finished. The former president’s support among Hispanic voters surged, with 45% of Hispanic votes nationwide in this election—a significant increase from the 2020 race. Trump also gained traction among low-income households burdened by economic pressures, particularly rising costs since 2020.
Voters Concerned with Economy Lean Towards Trump
With the economy a top concern, Trump received strong backing from voters who reported a decline in their financial well-being. Roughly 45% of voters nationwide felt financially worse off than four years ago, and they favored Trump over Harris by an 80%-17% margin. The election exit polls showed that 31% of voters named the economy as the most important issue, of which 79% cast their vote for Trump.
Stock Market, Dollar Surge as Trump Gains Strength
As Trump’s lead solidified in key states, U.S. stock futures, the dollar, and Treasury yields all climbed, indicating market confidence in his win. Financial analysts like Exante CEO Jens Nordvig noted the correlation between Harris’s perceived weakness in key counties and the market’s shift toward Trump.
Historic Election with Major Implications for American Democracy
This election holds unprecedented stakes. Harris, already the first female vice president, could make history as the first female, Black, and South Asian president. Conversely, Trump’s victory would mark him as the first president since Grover Cleveland to serve non-consecutive terms.
As tensions remain high and vote counts continue in critical states, this close race underscores the increasing polarization in American society. Trump’s rhetoric and unsubstantiated claims of election fraud add a further layer of complexity, while Harris’s campaign warns of risks to democratic values under a second Trump administration.
Key Takeaways of the 2024 Election
Trump Wins Key States: Trump secures North Carolina and Georgia, edging closer to the White House.
Economy Drives Voter Decisions: Financial concerns top voters’ lists, favoring Trump’s economic policies.
Historic Stakes: Harris or Trump, both poised to make history in unique ways.
Impact on Congress: Republicans gain Senate majority; the House remains undecided.
This pivotal election, marked by deep voter divisions, underscores the stakes for the U.S.’s future political landscape.