American Prosperity Agenda
Floor Speech
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Mr. PETERS. Mr. Speaker, Americans have seen a change in our economy firsthand and are concerned about what it means for their place in a new economy. We can't stop the forces that are transforming our economy and our world, but we can and we must look to the future to find the solutions that adapt to this new economy. We can't live in the past. This means boosting the creation of high-quality jobs by lowering barriers for small businesses to succeed and investing in infrastructure and research. It also means giving Americans the skills to work the jobs of the future that are being created.
In March 2015, the New Democrat Coalition released Winning the Future, which outlines how we can grow our economy, preserve the American Dream, and make government work better for the people.
The principles presented in the agenda and report represent ideas that anyone--Democrat, Republican, Independent--can support. The recently released report consists of 200 legislative actions, including items for every one of our Members. More than 57 percent of those bills--110 in total--are bipartisan, and more than 30 bills have advanced through a committee of the House or through the House as a whole. More than 20 items in the report have become law or have been implemented by an executive agency.
This represents not just a plan but tangible progress. Today, we will share what that means for growing the economy in every town and city in America and for helping hardworking Americans thrive in the changing global economy.
Federal funding for research and development has been on a downward trend for the past several decades. Today, the Federal Government spends almost two-thirds less on research and development than it did in 1965 as a portion of discretionary spending. The lack of funding has led to a $1.5 trillion investment deficit, and a growing number of America's best young researchers are taking their talents to other industries and to other countries.
We need to reinvest in our young researchers to remain globally competitive.
On that subject, I yield to the gentleman from Washington (Mr. Kilmer).
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Mr. PETERS. Mr. Speaker, I thank Mr. Kilmer for his leadership on this and for coming to join us today.
Speaking of climate change and those kinds of issues, front and center in the changing economy in this decade is a fundamental shift in the way that we provide power for our economy.
It is time to fully embrace the transition to a clean energy economy to reduce our alliance on foreign fuels, to create high-quality jobs, and to protect our environment.
Last year New Dems helped to extend tax credits for the investment in production of solar and wind power. This will drive an estimated $70 billion in private sector investment in wind and solar energy.
The wind and solar that will get built as a result of this investment will reduce emissions the equivalent of taking every American car off the road for 2 years.
New Democrats have put forward proposals to invest in alternative energy research in the military and further expand the deployment of clean energy across the country.
New Democrats are working to move the country forward to a clean energy economy that gives our children a better chance at a future with cleaner air, cleaner water, and economic prosperity.
The Harvard Business School's United States Competitiveness Project outlines eight actions it recommends that Congress take to make America the most economically competitive place in the world to do business, not just to raise corporate profits, but to increase wages for working people across America.
Among those eight steps, which include immigration reform, responsible Federal budgeting, simplification of Federal regulation, and investing in infrastructure and research, is tax reform.
A modern Tax Code for the United States should foster business development and innovation, support hardworking families, and create opportunities for Americans to prosper in a 21st century economy.
The current Tax Code is a complicated collection of outdated provisions riddled with loopholes in serious need of comprehensive overhaul.
New Democrats have advocated for comprehensive tax reform while putting forward commonsense proposals to fix some of the most critical provisions in our Tax Code.
This includes Chairman Ron Kind's proposal to promote American manufacturing and Representative Patrick Murphy's proposal to spur investment in startups.
New Democrats are working to reform our Tax Code and make America the most competitive place in the world to do business.
With more than 11 million immigrants forced to live in the shadows and countless other waiting in line outside the United States, it is clear America needs bipartisan comprehensive immigration reform.
As long as Congress continues to delay action on comprehensive reform, the United States continues to lose out on top talent from around the world, our economy suffers as bright minds go elsewhere, and families remain separated.
I have worked with New Democrat Coalition member Joaquin Castro on one such effort to modernize and streamline the United States visa system.
Together, New Dems have advocated for a comprehensive solution that includes an earned path to citizenship and improved border security.
This is supported by groups from across the spectrum and will grow the economy, create good jobs, and reduce the budget deficit by $200 billion and the debt in the first decade alone.
I yield to the gentleman from Washington State (Mr. Kilmer).
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Mr. PETERS. Mr. Speaker, we have heard an introduction as to how New Democrats are working to expand entrepreneurship, increase exports, invest in research and infrastructure, and set up Americans for success in the new economy.
Our economy isn't going to stop changing, and neither should our efforts to find the most innovative, effective solutions for adapting to those changes.
The Harvard Business School's United States Competitive Project has outlined eight actions it recommends that Congress take to make America the most economically competitive place in the world to do business, not just to raise corporate profits, but to increase wages for working people across America.
Those include New Democrat priorities like tax reform, responsible Federal budgeting, simplifying Federal regulation, investing in infrastructure and research, and fixing our broken immigration system.
I want to thank all the members of the New Democrat Coalition for their proposals and progress to increase prosperity and help hardworking Americans thrive in the changing global economy with more jobs, more skills, and more wealth.
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