Tags: debt ceiling deal | stocks

Stocks That Could Benefit From Debt Ceiling Deal

Stocks That Could Benefit From Debt Ceiling Deal
(Dreamstime)

Tuesday, 30 May 2023 11:31 AM EDT

Here are some stocks that could benefit, according to analysts at U.S. brokerage BTIG, if U.S. lawmakers this week pass a bipartisan deal to raise the $31.4 trillion debt ceiling, avoiding a potentially catastrophic default.

* An agreement to slash funding for the Internal Revenue Service by $20 billion is expected to limit the IRS' ability to develop an electronic tax filing system that would have competed with tax preparation software companies including Intuit Inc and H & R Block Inc.

* Companies in the U.S. defense complex -- such as those in the S&P 500 Aerospace & Defense index -- should receive a boost from the approximately 3% rise in defense spending next year and another 1% increase in financial year 2025 under the deal.

* Equitrans Midstream Corp, the developer of the Mountain Valley Pipeline that runs through West Virginia, is expected to benefit because the bill would grant the pipeline all necessary permits from federal authorities.

* The package also reinstates student loan payments beginning this fall, which would increase demand for refinancings and help student loan originators, particularly SoFi Technologies Inc , BTIG said.

© 2024 Thomson/Reuters. All rights reserved.


StreetTalk
Here are some stocks that could benefit, according to analysts at U.S. brokerage BTIG, if U.S. lawmakers this week pass a bipartisan deal to raise the $31.4 trillion debt ceiling, avoiding a potentially catastrophic default.
debt ceiling deal, stocks
188
2023-31-30
Tuesday, 30 May 2023 11:31 AM
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