U.S. Competitiveness Legislation Key to Addressing Today’s Economic Challenges and Creating Tomorrow’s Opportunities
Under the direction of President BidenJoe BidenBriahna Joy Grey: Biden Supreme Court Promises ‘Minimal’ Gesture to Black Voters House GOP Leader Says State of the Union Turnout Could Be Capped: Report Record Registration Numbers Send a clear message about healthcare affordability, access MORE and Democratic majorities in Congress, our economy is booming. Over the past year, the unemployment rate has fallen to a record low 3.9%, 6.4 million jobs have been created, wages have risen, child poverty has fallen, and America is leading the world in a strong recovery – a Biden Boom! But despite this historic growth, real challenges remain.
The ongoing COVID-19 pandemic, supply chain disruptions, and decades of underinvestment in U.S. infrastructure and manufacturing have driven up prices for Americans at groceries and grocery stores. gas pump. The Biden administration and Congress have already moved to dampen inflation and remove bottlenecks by expanding operations at key ports, releasing oil from the Strategic Petroleum Reserve and enacting the bipartisan Infrastructure Act. . But this cannot be the end of our work.
Right now, Congress can address the challenges facing families and keep the Biden Boom going by taking bipartisan action on US competitiveness legislation to secure our supply chains, reduce costs, strengthen US leadership , spur innovation and create well-paying jobs that will enable the United States for long-term economic success. In December, the New Democratic Coalition announced our main priorities for this legislation and worked to ensure they were included in the House’s America COMPETES Act. It will solve many of the problems we face today, create opportunities for tomorrow, and help America succeed in the 21st century.
First and foremost, this legislation must address the global shortage of microchips. From cars and clean energy technologies to cell phones and dishwashers, semiconductors and microchips are essential to the products Americans rely on every day. But the current global chip shortage is driving up prices for U.S. consumers in many industries. For example, new car prices have increased to 14% last year and used car prices have gone up 37%. Passing legislation that strengthens global supply chains and supports domestic manufacturing will not only strengthen our microchip offering, but also reduce costs, create good American jobs, and help the United States lead the economy. world.
It’s a win, top to bottom.
To compete globally, we must also leverage the talent of hardworking Americans in diverse communities across this country. Currently, jobs in the technology and innovation sectors are concentrated in a handful of coastal cities. Only five American cities represent 90% recent growth in jobs in innovation. That’s a lot of untapped potential and communities left behind. By investing in new innovation centers in regions outside of existing tech hubs like Silicon Valley, we can unlock the potential of communities like Madison, Wisconsin, and Allentown, Pennsylvania, to attract new industries, meet game-changing challenges and create the professions of the future.
If we are to fill these jobs, we must also support the next generation of high-tech, highly skilled American workers. I personally understand how important well-funded education and research opportunities are for STEM jobs. Before coming to Congress, I was blessed with a quality education that prepared me for a job in science and technology. By expanding fellowships and undergraduate research opportunities, especially at historically black colleges and universities, Hispanic-serving institutions, and tribal colleges and universities, working Americans will gain the skills necessary to thrive in the Mondial economy. Increased educational opportunities and funding will also ensure that America leads the world as innovators and creators.
None of these investments occur in a bubble. America is made stronger by the support of our allies and close trading partners. That is why we must leave behind the isolationist policies of the last administration and return to the role of rule makers, not rule takers. We are in a global race for the future and if we don’t make these key investments, we put our national security, our allies and our values at risk. As countries around the world increase their investment in science and technology, we must ensure that we are not just keeping pace, but staying ahead of the curve. This legislation levels the playing field so that the United States can compete fairly on the world stage.
We should not be intimidated by today’s economic challenges. We should be excited about the opportunities ahead of us. President Biden recently noted, “the best thing to do to combat high prices is a more productive economy, with a greater ability to provide goods and services to the American people.” This bill honors and keeps that promise. It will be hard work, but Americans have never been shy about discovering and creating the future. The New Democrats will work with the Biden administration and our colleagues on both sides of the aisle and on Capitol Hill to get the final bill to the president’s desk as soon as possible.
Suzan DelbeneSuzan Kay DelBeneDemocrats seek to trim Biden bill to pass Democrats face tough choices on Biden plan after Manchin setback The Hill’s Morning Report – Presented by National Industries for the Blind – Manchin says no; The White House is fighting back MORE represents Washington’s 1st District and is President of the New Democrat Coalition.