OPINION: Enough with building walls. Enough with rhetoric and symbolism without substance. Enough with nostalgia for an imagined past. Conservatives should embrace economic growth, not play down its significance.
WASHINGTON —The Republican Party substantially underperformed in this year’s midterm elections, with the candidates most closely associated with former President Donald Trump performing the worst. The absence of the anticipated “red wave” may be the moment when the party finally realizes that Trump is an electoral liability.
Post-Trump, pro-growth agenda It’s long past time for the Republican Party to turn the page. Enduring political success is built on a foundation of sound, effective policies that are understood by the public to have improved their economic outcomes. The GOP needs a post-Trump, growth-and-participation policy agenda.
Those policies should include an expansion of federal earnings subsidies like the earned-income tax credit, which reduces poverty and increases employment by boosting the financial returns of working. By introducing supply-side reforms to the commercial child-care sector, conservatives could reduce prices and expand access to services, making it easier for parents to work.
Tear down barriers to opportunity There is room in this agenda to scratch the populist, anti-elite itch. Employer power in the labor market, noncompete clauses in employment contracts, and occupational-licensing restrictions all favor incumbents and big firms over workers. These barriers to opportunity should be weakened.
The expiring provisions of Trump’s 2017 tax law that encourage business investment should be extended in order to boost productivity, wages, and economic growth. To help foster innovation and the new inventions that fuel lasting prosperity, conservatives should support additional incentives for corporate research and development and federal support for basic research.
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