NOVEMBER 11, 2024
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What businesses can expect from Moreno’s win Silicon Valley-backed Republican promises to reduce regulations, slash government spending By Kim Palmer
Republican challenger Bernie Moreno was declared the winner late on election night in a tight race against incumbent Democrat Sherrod Brown. Besides being the most expensive U.S. Senate race in history, it was also a key race that helped decide party control of the U.S. Senate. By beating Brown, Moreno also marks a change in direction for the state, including for business. The Republican businessman has never held elected office before. He ran for former Sen. Rob Portman’s seat in 2022 but lost in the primary to JD Vance. He defeated Ohio Sen. Matt Dolan and current Secretary of State Frank LaRose in the primary to face Brown in the general election. The race might have been close, but the policy priorities of the two candidates were not. Beyond big differences in social issues — Moreno supports a
ban on abortion, while Brown campaigned for the ballot initiative to protect reproductive rights in the state — the two candidates diverged on regulations, energy policy and government spending. Here are the three things businesses can expect with Moreno in the Senate:
Government spending Of the 16 priorities Moreno posted on his campaign website, reducing regulations and cutting government spending was listed fourth from the top. He railed against the Inflation Reduction Act of 2022 and the Infrastructure Investment and Jobs Act of 2021 during his campaign. Moreno could join Republican House Speaker Mike Johnson, who last week told reporters that he will “probably” try to repeal or roll back spending provided by the CHIPS and Science Act. The See MORENO on Page 16
MORE ON THE 2024 ELECTION Editorial: Six lessons from an extraordinary election. PAGE 6 Crypto companies who backed Moreno celebrate win. PAGE 16
Everyone is lonely. Here’s how we’re coping with it. There is no loneliness cure, as different phases of life bring different types of loneliness. But there are ways to alleviate some of it. PAGE 9
Six possible replacements for JD Vance’s Senate seat. PAGE 16
Legendary real estate agent Musarra remembered for loyalty, fierce spirit By Joe Scalzo
Bernie Moreno speaks during the Republican National Convention on July 16. | BLOOMBERG VOL. 45, NO. 42 l COPYRIGHT 2024 CRAIN COMMUNICATIONS INC. l ALL RIGHTS RESERVED
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Let’s start with the car. Linda Musarra always drove a Mercedes S550 — black, just like her outfits — that she nicknamed “Vegas.” As in, “Whatever happens in Vegas, stays in Vegas, honey.” “It would give you the confidence to say, ‘OK, what she means is in this car, we can discuss anything from your financials to your family to whatever you need me to know,’” said Koby Altman, the Cavaliers’ president of basketball operations. “You knew it was going to stay in that car and she was going to make sure she helped you in her life.” Over her nearly 40-year career
at Chestnut Hill Realty, Musarra dealt in luxury and loyalty in equal measure, an approach that earned the trust of Cleveland’s royalty, from professional athletes to coaches to doctors to executives to lawyers to inventors. She did it confidentially. She did it enthusiastically. And she did it tirelessly, right up until she died in her sleep of a suspected heart attack on Saturday, Oct. 19, with her phone 2 inches away from her hand. “She touched so many important people in the community and she never wanted full credit,” Altman said. “And now that she’s gone, we’re going to give it to her.” See MUSARRA on Page 17
Longtime Chestnut Hill agent Linda Musarra died Oct. 19. | CONTRIBUTED
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