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1. Building Infrastructure in Real Time: Avoiding Regulatory Paralysis

Author:
Committee for Economic Development of the Conference Board
Publication Date:
09-2021
Content Type:
Policy Brief
Institution:
The Conference Board
Abstract:
The physical infrastructure base of the US economy, once an advantage in global competition, has become a liability. This problem has multiple causes, several of which CED has addressed in recent policy statements, and our nation’s elected policymakers are now taking up the need for additional funding. But the nation needs not only adequate funding but also a more-efficient regulatory process for our infrastructure investment—choosing the right projects, with the minimum delay, and executing them at the least possible cost. Regulatory paralysis is one of the causes of our infrastructure shortfall. It needs attention if we are going to spend our tax dollars on infrastructure wisely and efficiently so that the US economy remains globally competitive. Streamlining regulatory procedures, promoting competition, and cutting red tape across federal, state, and local governments are key to increasing investment, decreasing cost, and maximizing efficiency. Business as usual will not suffice. It takes too long and costs too much to deliver infrastructure projects, preventing us from achieving the advancements and improvements that a future-focused, competitive economy requires. CED has consistently advocated “smart regulation,” subjecting new regulations to rigorous cost-benefit analysis and reviewing existing regulations for continuing cost effectiveness to enhance efficiency and achieve quicker execution, greater benefits, and lower costs. With long delays between project conception and execution, and often multiple layers of jurisdiction and review, a smart regulation approach could ensure that the rules governing review and permitting of projects address all important concerns and ensure that net benefits are maximized over time at all levels of government on a comprehensive and timely basis.
Topic:
Economics, Infrastructure, Governance, Regulation, Business, Economic Policy, and Strategic Competition
Political Geography:
North America and United States of America

2. Broadband Access - Connecting America

Author:
Committee for Economic Development of the Conference Board
Publication Date:
03-2021
Content Type:
Policy Brief
Institution:
The Conference Board
Abstract:
With most Americans dependent on reliable, high-quality, high-speed internet services to work, train, consult with doctors, or attend school from home, the COVID-19 pandemic vividly demonstrates that affordability and access barriers leave too many families behind. As America’s leaders in business and policy work toward a postpandemic economic recovery that delivers increasing prosperity for American families and preserves our nation’s economic leadership, they must also build toward a vision of a fully wired nation that meets the internet needs of all its citizens. Innovation and competition in information technology have been essential to delivering a higher quality of life and modern commerce, and they will be integral to lasting solutions that close two stubborn gaps that leave a minority of Americans behind. First, millions of Americans—particularly in the least densely populated areas—lack access to reliable high-quality internet services that could connect them to essential educational, employment, and entrepreneurial opportunities. Second, large numbers of low-income Americans with physical access to such services cannot afford them at current market prices, leaving them “underserved,” with less economic opportunity than their higher-income peers. In too many areas, a lack of competition among providers contributes to underservice. As needed internet speeds and associated hardware and technologies have advanced, closing these high-speed internet service gaps—increasing economic opportunity and strengthening businesses and communities—is essential. Policymakers must leverage the dynamism and innovation of the private market, increase competition in the provision of services, and invest wisely to close the gaps, boost deployment and affordability, and meet the universal service and critical technologies goals that have motivated nearly a century of federal telecommunications law.
Topic:
Science and Technology, Communications, Infrastructure, Internet, Economy, and Business
Political Geography:
North America and United States of America

3. A US Workforce Training Plan for the Postpandemic Economy

Author:
Committee for Economic Development of the Conference Board
Publication Date:
04-2021
Content Type:
Policy Brief
Institution:
The Conference Board
Abstract:
Though the US economy is expected to recover to its prepandemic level of production (gross domestic product or GDP) by the second quarter of 2021, the postpandemic economy will be different in many important ways. The pandemic’s acceleration of trends toward remote work, digital transformation, and automation could permanently reduce demand for low-skill jobs. To build a large and fully competitive US workforce and reduce inequality, aggressive reskilling will be needed. Even before the global pandemic’s onslaught, preparing the future workforce to drive rapidly advancing technology in an increasingly competitive global economy—and minimize the adverse fallout from these trends—was one of the nation’s greatest challenges. COVID-19 has made this challenge more urgent. Now, an estimated 40 percent of workers will need short-term training and reskilling by 2025.1 American leadership, prosperity, and competitiveness will hinge on maximizing the skills of our nation’s workers. The pandemic has disproportionately displaced minority workers, women, youth, and workers with lower educational attainment, many of whom are among the near-record 40-plus percent of the jobless who have been unemployed more than six months. Such displaced workers, or the “long-term unemployed,” typically find it hard to get a new job the longer they are without one. For many of them, securing a new job will require training for skills that are in demand.
Topic:
Partnerships, Economy, Business, Training, COVID-19, and Workforce
Political Geography:
North America and United States of America

4. 2020 Election: Achieving a Safe, Accessible, and Credible Election during COVID-19

Author:
Committee for Economic Development of the Conference Board
Publication Date:
09-2020
Content Type:
Policy Brief
Institution:
The Conference Board
Abstract:
The 2020 general election is already underway, with absentee ballots being mailed out and collected in some states. And what seemed worryingly possible in the spring is now inevitable: the COVID-19 pandemic will be an important factor in the conduct of this fall’s election. Every community must address the public health threat and facilitate safe participation. Policymakers, election officials, and business leaders must ensure that voters need not choose between exercising their franchise and protecting their health, and that the election itself does not further spread COVID-19.1 The Committee for Economic Development of The Conference Board (CED) strongly believes that transparent, fair, and accessible elections are fundamental to the confidence of US citizens in their government and its leadership, and to the long-term health of the US economy. In May, June, and July, CED called on Congress to provide states with funding to conduct a safe, accessible, and credible election in the midst of a pandemic. With the election in progress, and Election Day less than two months away, the states and local communities, with or without federal support—including leaders in the business community—must act to meet those goals. As explained in this Solutions Brief, there is still time to protect voters and poll workers and maintain trust in the conduct and outcome of elections. Fortunately, effective measures are already in force in pockets of the country, with states and election officials needing only to replicate the best preparations and practices nationwide. This brief outlines recommendations policymakers should adopt to improve operations in their jurisdictions. Given the public health challenges involved, business leaders will also play a critical role in protecting their employees, customers, and communities during a successful election. To the extent possible, business leaders should take the concrete steps outlined in the brief to assist in the election effort.
Topic:
Elections, Economy, Business, Domestic Politics, and COVID-19
Political Geography:
North America and United States of America

5. Smart Regulation in a Post-COVID-19 Economy

Author:
Committee for Economic Development of the Conference Board
Publication Date:
04-2020
Content Type:
Policy Brief
Institution:
The Conference Board
Abstract:
The COVID-19 pandemic has put regulation issues front and center in every American’s life. Within a few short weeks, 41 out of 50 states have issued stay-at-home orders,1 and regulations governing many other aspects of all Americans’ public lives are now imposed because of COVID-19. Among a long list of constraints, nonessential businesses, many of them small businesses, have been required to cease or sharply curtail their services. Schools have been closed, access to parks and outdoor spaces has been restricted, and other staples of all Americans’ public lives, including large gatherings, have been restricted. On the other hand, and more than ever before, Americans have seen other regulations lifted rapidly, particularly in the heavily regulated health care sector. Constraints on testing, laboratories, out-of-state health care workers, vaccine R&D, telemedicine, ventilator production, and infrastructure expansion have been relaxed. Even more extensive relief has addressed the unprecedented havoc that COVID-19 has unleashed on American society, public health, and the economy. Restrictions on work at home, online courses at colleges and universities, the transport of food and alcohol, and hours truck drivers can be on the road are all being lifted or relaxed to meet the demands of the crisis. Restrictions on the production of hand sanitizer and the amount that the Transportation Security Administration (TSA) allows passengers to carry on airplanes have also been relaxed.
Topic:
Regulation, Economy, Business, and COVID-19
Political Geography:
North America and United States of America

6. Technology and Innovation Solutions Must Lead the Way to COVID-19 Recovery

Author:
Committee for Economic Development of the Conference Board
Publication Date:
05-2020
Content Type:
Policy Brief
Institution:
The Conference Board
Abstract:
The COVID-19 pandemic is disrupting the US and world economy with unprecedented speed and scope, drastically altering the daily experiences of millions of Americans. As private and public leaders in the US race to suppress the outbreak and begin reopening the economy, educators, employers, and service providers are seeking new or different ways of doing business to preserve learning, productivity, and well-being. Aided by US capitalism’s long history of boundary-pushing advancements in science and technology, the US response—ranging from tracking the virus’s spread to shifting commerce to virtual tools and platforms—will draw on rapid adoption, adaptation, or improvement of technologies as well as faster-paced innovation. Under pressure of the public health crisis, many organizations will accelerate technologies in their daily practice, advancing the timeline for cutting-edge business and social services. America is in a strong position to innovate to address this and future pandemics. However, it must also address the spotlight COVID-19 has shone on critical shortcomings with US technology, its accessibility, the regulations governing its application and use, and the privacy and public health trade-offs for policy makers and private sector leaders. As this report explains, policy makers and business leaders must address these critical shortcomings with new approaches including: Funding states and localities so all Americans have access to broadband during lockdowns to access services and distance learning; a “digital divide” that was problematic before the crisis is crucial during social and economic restrictions when even some basic services are provided only remotely; Changing regulations—some temporarily, others permanently—to support innovation and experimentation to address the immediate and potential future public health crises, including relaxing restrictions to speed vaccine development, expanding telemedicine, and improving monitoring and tracking of the outbreak; Removing unnecessary roadblocks to faster and more effective adoption of digital tools to improve remote work, medicine, and learning capabilities while protecting data privacy; and Replacing outdated public-sector IT systems to increase flexibility and reliability in providing relief and serving families and businesses. After this crisis, technological innovation will remain critical to the nation’s economic strength—ensuring that the US remains globally competitive and achieves prosperity. The US must use this moment as a turning point, not only to address the immediate crisis but to bolster its technology and innovation edge to compete globally and respond to unforeseen challenges and crises in the long term.
Topic:
Science and Technology, Business, Innovation, COVID-19, and Digital Policy
Political Geography:
North America and United States of America

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