Washington Ignores State Economic Success Stories
Job, Wage Growth Come With Smart Growth Policies
(Washington, D.C.) – As elected officials in Washington take credit for mild improvement in the U.S. economy, it is important to note the different experiences among states. For example, the state of Texas has accounted for all of the net job creation in the United States since 2007, according to one recent study. Additionally, much of the economic growth the country has experienced in recent years has been concentrated in states that pursue pro-economic growth policies. States such as Michigan and Indiana have seen major improvement. At the same time, states that have seen declining manufacturing sectors include Arkansas, Connecticut, Delaware, Maryland, Massachusetts, New Jersey, and New York – jurisdictions which have failed to adopt policies that encourage growth.
Daniel Garza, Executive Director of The LIBRE Initiative, released the following statement:
«Economic growth, wage growth, and job creation don’t just happen. They occur when governments put in place pro-growth policies which are not that complex. Taxes on investment should be low. Regulation should be limited. The legal climate should not encourage costly and frivolous lawsuits. Governments should adopt clear and consistent business policies that do not change constantly at the whim of elected officials. Follow these rules, and American workers and entrepreneurs are smart and hard-working enough to create jobs, grow wages, and expand economic opportunity.
While Washington hasn’t always shown an ability to follow these simple rules, more and more states are doing so. These regional economic successes are helping to revive our national economy at a time when many working families continue to struggle. Leaders in Washington need to study and learn the best lessons from 50 state capitols.»