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.

Publications

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Model Policies

  • The Smart Cryptocurrency Rules Act Draft

    1. Definitions: For the purposes of this chapter, the words defined in this section have the meaning given. a. “Cryptocurrency,” refers to a form of virtual currency recorded using cryptographically secured distributed ledger technology. There are various means of recording transactions and managing the issuance of new units…

  • Protecting Businesses and Workers Act Draft

    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,…

  • Resolution Urging Congress to Protect Consumer Privacy in Banking and Financial Transactions Final

    Resolution Urging Congress to Protect Consumer Privacy in Banking and Financial Transactions WHEREAS, the Biden Administration and some in Congress have proposed changes to tax information reporting which would require financial institutions to provide the Internal Revenue Service reports of incoming and outgoing transactions from every customer financial…

  • Resolution to Prioritize Strengthening the U.S.-Taiwan Partnership to Enhance Global Supply Chain Security and Resilience Final

    Model Resolution WHEREAS, there is near universal consensus among American policy makers on both sides of the aisle that the United States needs to assess and reduce supply chain vulnerabilities; and WHEREAS, this concept was most recently articulated in a White House Review pursuant to Presidential Executive Order 14017 on…

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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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