Key Points
  • Consumer banking policies should encourage the increased availability of financial tools to unbanked and underbanked consumers, offer consumers a wide variety of investments and other financial services and enact safeguards to limit banks’ involvement in high risk investments.
  • Policymakers should prohibit political subdivisions from enacting lending ordinances or rules that would prevent persons from doing business with a political subdivision based on restrictions on lending practices.
  • The elimination of excessive housing regulations and increasing the production of affordable housing through free market mechanisms is an important component in encouraging economic growth.

The United States is among the most developed economies in the world. This has led to a standard of living that is simply unmatched throughout the world or throughout history. Even in such a developed and comparatively wealthy nation, policymakers still must allocate resources appropriately to encourage further economic development in their own communities and bring the benefits of a developed economy to their constituents. Encouraging economic development and adopting policies that promote that development rather than hinder it can mean an enormous improvement in the economic opportunity and quality of life for all people.

While there are myriad factors that contribute to economic development, making sure that businesses and individuals have access to capital is key. Capital and access to it is the catalyst for investment that drives job creation and economic security. Policymakers should also strive to ensure that businesses are not over-regulated. Overregulation costs the economy billions of dollars each year and hampers economic development by discouraging investment and entrepreneurship. Regulations should not proliferate to a point beyond reasonable public and consumer protections.

Creating a market-oriented housing policy that allows housing supply to fit demand and encourages the creation affordable housing through market forces can boost a state’s human capital and help to develop an area’s economy. As job opportunities grow, human capital must be there to sustain and benefit from the increased economic activity. Crafting polices that allow the most vulnerable among us to better themselves and their families by enacting common-sense housing reforms can be crucial in limiting people out of poverty.


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Model Policies

  • Resolution Supporting Access to Safe and Reliable Payments Systems Final

    WHEREAS, Americans have developed an exceptionally advanced and innovative payments system through a steadfast focus on private sector leadership that respects the rights of individuals and companies to make their own informed choices about how they pay and are paid; and WHEREAS, the market-based payments approach in this country responds…

  • Right to Start Act Final

    BE IT ENACTED BY THE __________ (GENERAL ASSEMBLY OR LEGISLATURE) OF THE STATE OF __________: This bill shall be known and may be cited as the “Right-to-Start Act.” Section A: Office of Entrepreneurship  There is hereby created within the _________ (Department) of __________ (Economic Development or Commerce or Other)…

  • The Smart Cryptocurrency Rules Act Final

    1. Definitions: For the purposes of this chapter, the words defined in this section have the meaning given. a. “Digital assets” refers to cryptocurrencies, as well as natively electronic assets, which may include stablecoins, non-fungible tokens (NFTs), and other digital-only assets that confer economic, proprietary, or access rights…

  • Protecting Businesses and Workers Act Final

    SECTION 1. This Act shall be known and may be cited as the “Protecting Businesses and Workers Act.” SECTION 2. Chapter _______ of Title _______ of the Official Code of _______ (State Name) Annotated, relating to minimum wage law, is amended by revising Code Section _______, relating to…

  • Statement of Principles on Ending Home Equity Theft Final

    Section 1. Twelve States’ Current Laws Facilitate Government Theft of Home Equity In a minority of states, if a property owner fails to pay or underpays their property taxes, the county or a lienholder can eventually take the entire property along with the owner’s equity for a debt of just…

  • Establishing a Public-Private Partnership (P3) Office Act Final

    Model Policy {Title, enacting clause, etc.} Section 1. {Title} This Act may be cited as the “Establishing a Public-Private Partnership (P3) Office Act.” Section 2. {Definitions} The following definitions apply in this section: (A) “Contract” means any purchase and sale agreement, lease, service agreement, franchise agreement, concession agreement,…

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Task Forces

Commerce, Insurance and Economic Development

Members of the Commerce, Insurance and Economic Development Task Force believe that economic freedom is the cornerstone of prosperity. The…

Press Releases

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