By Congresswoman Stephanie Bice
I was honored to be appointed earlier this year to serve on the Select Committee on Economic Disparity and Fairness in Growth, where my colleagues and I will dive deep into issues related to economic fairness, access to education, and workforce development. This committee is similar to the mission of the Temporary National Economic Committee, which was founded by President Roosevelt after the Great Depression to address the distribution of wealth that played a role in triggering the economic collapse in 1929.
This year, the trend of economic disparity has accelerated due to COVID-19 impacts on our economy, and the labor force participation rate is the lowest it’s been in nearly 45 years. The millions of Americans today that are unemployed or actively seeking work has created a wide range of challenges for American families and our economy. Therefore, it’s vital that we address the question of why some of our fellow Americans are being left behind.
There are a few main areas that I look forward to bringing to the attention of this Select Committee and working together, we can create solutions. First, it is critical that we review and unwind federal policies that have disincentivized participation in the labor force. Many of these policies were created at the beginning of the COVID-19 pandemic and are now holding our current economy back as we rebound from this crisis.
Also, we need to refocus and strengthen our nation’s education and workforce development programs. Our current education system leaves many Americans behind, saddles students with large amounts of debt, and often promotes pricey degree programs with limited job prospects. I would like this committee to work on aligning workforce development programs to the actual needs of employers who are seeking skilled workers, which would essentially guarantee jobs for those who complete these programs.
Additionally, it is critical that we prioritize reforming our nation’s criminal justice system and refocus efforts on rehabilitating the nearly 95% of prisoners who will eventually be released during their lifetime.
Finally, I believe regulatory relief and tax reform are key components of addressing economic disparity in our country. Through my many years in the private sector, including running my own marketing company, I firmly believe tax policy and government regulations have tremendous impact on the decisions of businesses to hire, expand, and make investments. It’s important that we consider the complexity of the tax code and labyrinth of federal regulations and the effects these federal policies have on the availability of economic opportunities for all Americans.
By working collaboratively with my colleagues, I believe we can create meaningful changes to improve our country’s economy and the lives of the American people by focusing on these priorities in the Select Committee.
