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Some prominent Republicans pivot on the economy

Nancy Marshall-Genzer Jun 22, 2023
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Sen. Marco Rubio (R-Fla.) told the audience the GOP should be more skeptical of the free market — especially when corporations do things like move their factories to China. Nancy Marshall-Genzer

Some prominent Republicans pivot on the economy

Nancy Marshall-Genzer Jun 22, 2023
Heard on:
Sen. Marco Rubio (R-Fla.) told the audience the GOP should be more skeptical of the free market — especially when corporations do things like move their factories to China. Nancy Marshall-Genzer
HTML EMBED:
COPY

A group of prominent Republican leaders is coalescing around a new economic strategy that’s a far cry from the free market capitalism of the past. These Republicans are still social conservatives on issues like guns and abortion. But a new manifesto from American Compass, a conservative think tank charts a different path on the economy.

The manifesto calls for eliminating the trade deficit and encouraging manufacturing in the U.S. Florida Republican Sen. Marco Rubio told the audience at a forum on Capitol Hill that the GOP should be more skeptical of the free market — especially when corporations do things like move their factories to China.

“Because the market says it is more efficient to make medicine in China — make anything in China — but it’s not in our national interest, and it’s certainly not in our national interest to create these pockets of despair as well in America,” Rubio said.

This group of Republicans say that they also supports guarantees for workers to organize and join unions, although they would also bar unions’ political spending. Sen. Todd Young, an Indiana Republican, wants to ban non-compete clauses that block a company’s  employees from going to work for  a competitor or starting their own businesses.

“You trap employees in that relationship and don’t give them the freedom to leave and apply their skills where they can be applied where there’s the most economic value added,” Young said.

The manifesto also pushes for a monthly benefit of up to $350 per child for working families, and it backs a financial transaction tax that would target what it calls  “unproductive and speculative transactions” by investors.

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