Center Forward Launches New Project: “Protect our Economy”
Published on October 20, 2023
For Immediate Release
October 20, 2023
Washington, D.C. – As the U.S. economy rebuilds in the wake of challenges such as the COVID-19 pandemic, Center Forward has played a significant role in bringing policymakers, business, and thought leaders to the table to discuss how best to secure an upward economic trajectory. In addition to convening lawmakers on both sides of the aisle, Center Forward has produced policy papers examining various legislative proposals and their impact on the economy and conducted research and polling in battleground states to better understand the challenges Americans face.
To continue this ongoing effort to foster productive, bipartisan dialogue, Center Forward has launched a new effort to educate on potential pitfalls for stalling economic growth at a time when the recovery is still tenuous, and lending is constricting. “Protect our Economy” will consist of a year-long education effort around various components of the United States’ financial system, starting with the Federal Reserve’s proposed rules that could weaken our financial markets, resulting in increased costs of everyday goods and reduced credit available to hard-working Americans and businesses.
“Center Forward is committed to fostering dialogue that will move this country forward and to educating the American people about what their elected officials are doing to advance our economic recovery,” said Cori Kramer, Center Forward CEO. “’Protect our Economy’ is the latest in our efforts to make sure policymakers and the people they serve are informed on the issues and are aware of any potential risks or benefits associated with specific policies, particularly where they pertain to the economy.”
This new endeavor will look at numerous issues related to the American economy: debt and deficit, workforce availability and training, and education among others. The project launch takes on the Fed’s proposal and its implications for reduced access to credit and funding through the financial markets. Shrinking the availability of credit and investment in today’s economy will not only further reduce lending but raise costs of everyday goods for Americans and expenses for businesses of all sizes while reducing investment in community infrastructure and returns on retirement savings. Industries that would disproportionately face increased costs include transportation, manufacturing, and agriculture, among others, in addition to individuals who could face higher state and local taxes, energy bills, and reduced returns on 401ks and pensions.
These newly proposed capital rules by the Fed could ultimately send ripples through the economy, raising costs and threatening the U.S. economy. This education campaign is driven by the imperative for everyday Americans, farmers, and companies to understand the potential costs to their everyday lives, businesses and ability to plan for their future.
To read more about “Protect our Economy,” visit www.protectoureconomy.org