Business community sees economic revival in GOP controlling one chamber of Congress

The survey’s findings suggest that with at least one chamber of Congress controlled by Republicans, the Democratic reform agenda would be stopped — which a majority of respondents view as a good thing. 

“More than the policy direction of the last two years, the poll also finds the business community is most concerned about what they see as a lack of clarity and direction in economic policy,” the poll states.

A majority (56 percent) of respondents say that President Obama and congressional Democrats have not set a clear direction for U.S. economic policy, and that lack of clarity is causing uncertainty for companies and investors.

Sixty-nine percent of respondents say healthcare reform is having a negative impact on their business and investment interests, and 65 percent say the financial services reform is having a negative impact.

Pollsters are predicting that Republicans will take control of the House after the midterm elections. If accurate, 64 percent of respondents to the FTI survey say overall economic conditions would improve. Sixty-three percent say improved economic conditions would bolster their businesses or investment interests. 

Under a Republican-controlled House, 60 percent say they will increase hiring and 56 percent would expand capital expenditures.  

But even with a strong preference for Republicans to control at least one chamber of Congress, 53 percent of respondents expressed a preference for conservative leaders to find ways to compromise with Democratic leaders in order to get things done.  

“While a Republican victory in Congress is sought, the business community is not endorsing a blockade or repeal of all White House initiatives in the new Congress,” said John Klick, an FTI senior manager, in prepared remarks. “Indeed, the poll findings are telling us that businesses want a Republican Congress more as a means to an end to see bipartisan action from Washington that is supportive of the daily decisions businesses make regarding their planning and operations.” 

FTI is a global business advisory firm, which tapped the opinions of 400 U.S. investors, financial advisors and small-business owners between Oct. 11-14. Additional information on the survey can be found at www.fticonsulting.com.