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

+ All Economic Development Publications

Model Policies

  • 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 …

  • Statement of Principles on Ending Home Equity Theft Draft

    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 …

  • 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 …

  • A Resolution for Government Services to be Compared to Private Sector Services for Federal and State Grant Money Final

    Whereas, federal and state grants are a crucial part of funding for public works and community development infrastructure projects and, Whereas, federal and state grants are used to help defray costs to local taxpayers and, Whereas, federal and state grants are still taxpayer money and Whereas, federal and state grant …

  • The Hurricane Mitigation Promotion Act

    {Title, enacting clause, etc.} Section 1. {Designation.} The period from May 25th to May 31st of each year is “Hurricane Mitigation Week.” Section 2. {Proclamation.}  The Governor is requested to issue each year, a proclamation calling on: (A) Individuals, business owners, and commercial property owners within the state to prepare their homes, properties, and …

  • Mobile Food Vendor Freedom Act Final

    Section 1. Short Title. This Act shall be known as the “Mobile Food Vendor Freedom Act.” Section 2. Purposes. The Act’s purposes are to: legalize mobile food vending across the state; promote agriculture and expand economic development; foster opportunities for small businesses and stimulate innovation; increase consumer access to desired …

+ All Economic Development Model Policies

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

+ All Economic Development Press Releases