This week, Senator Marco Rubio (R) released a report called “American Investment in the 21stCentury.”
He is the Chairman of the Senate Committee on Small Business and Entrepreneurship.
In the report, the Florida Senator provides an outline for how long-term domestic investment will benefit the United States’ economy, keep the country competitive with China and guarantee a strong and prosperous country moving forward.
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A press release for the report informed that “economic growth is now more driven by finance than innovation in the production of real assets, a fundamental shift in the U.S. economy that has occurred over the last four decades.”
Moreover, “since the 1970s, changes made by American businesses and policymakers began prioritizing high returns to investors in the short term, rather than investment in long-term capabilities.”
Rubio expressed that “American capitalism has produced more prosperity for more people than any economic system in the history of the world. That record of achievement is dependent upon capital investment.”
Providing further information on what the report details, he added that “this report details a decline in domestic investment and makes the case that we must prioritize investment in long-term capabilities in order to ensure future prosperity for American workers and communities.”
He described that “less investment in our own future productivity represents a lack of will to build an economy and country that can sustain and renew itself for generations to come.”
Finally, praising the Trump administration and Republicans in Congress, Senator Rubio noted that “the Trump boom in our economy has rewarded workers long overdue for a raise. However, short-term economic growth does not guarantee a strong and prosperous nation. If we do not change our public policies to reflect long-term investment as a priority, we will not be able to compete globally or build the America our values demand.”