ECONOMIC POLICY
Policy Directors: Mike Massingill
Advocacy Director: Lucas Yang
The Economic Policy sector focuses on the issues regarding the economy, covering decisions regarding the changing labor market, financial stability, grants and loans, and more. With the fluctuating nature of the current economy, the Economic Policy sector aims to ensure stable markets, financial security, business development, and increased employment.
1. The Virginia Tax Relief for Agriculture Industries in Need (TRAIN) Act
May 2020
The Virginia Tax Relief for Agriculture Industries in Need (TRAIN) Act incentivizes the supply chain between farms and food sites through an increase in tax deductions during a State of Emergency. This future provision to the tax code will better allow farmers to donate excess supplies to food sites. During the COVID-19 State of Emergency, many farmers have reported an excess of produce while food sites are experiencing much higher demand. This measure ensures that the supply chain is fully utilized and will cover most transportation costs and other burdens currently limiting farmers.
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2. Virginia pandemic unemployment Microloan Program (PUMP)
July 2020
The Virginia Pandemic Unemployment Microloan Program (PUMP) is a workforce development initiative that helps ensure job security for those who are most vulnerable to a contracting economy. The Virginia Employment Commission would be designated to give loans between $2,000 and $10,000 to residents who have been unemployed as a result of COVID-19 and who do not have a post-secondary education. The goal of this program is to incentivize workers, who lack the necessary credentials and skills, to educate themselves through the Virginia Community College System in order to be more marketable in the coming months and years.
3. North Carolina pandemic unemployment Microloan Program (PUMP)
July 2020
The North Carolina Pandemic Unemployment Microloan Program (PUMP) is a workforce development initiative that helps ensure job security for those who are most vulnerable to a contracting economy. The North Carolina Department of Employment Security would be designated to give loans between $2,000 and $10,000 to residents who have been unemployed as a result of COVID-19 and who do not have a post-secondary education. The goal of this program is to incentivize workers, who lack the necessary credentials and skills, to educate themselves through the North Carolina Community College System in order to be more marketable in the coming months and years.
4. The Healthcare Revitalization act for the commonwealth of virginia
October 2020
The healthcare revitalization act is an attempt to lower drug and healthcare prices for the average individual. It’s three prong approach: setting a $100 For epinephrine auto injectors, creating a commission in the Virginia general assembly to monitor health care prices and set drug price caps, and further regulating pharmacy benefit managers to ensure better and faster patient care, will be some of the most robust healthcare change Virginia has seen. The number of patient deaths as a result of delayed prescriptions will decline, and quality of care, especially for those on oral oncolytics or other specialized treatment or drugs, will increase.
5. The Green Infrastructure For Tomorrow (GIFT) Portfolio
May 2021
The Greater Good Initiative proposes a portfolio of seven policies to both address the cause of climate change and work towards a more environmentally friendly future. These policies highlight specific issues and regions that should be most considered in future infrastructure plans. Infrastructure is a bipartisan agenda that both parties should be willing to partake in the near future, as upgrading public works will foster a safer and more efficient environment for all citizens.
6. Amending the standards of student education for teens (ASSET) for the commonwealth of Pennsylvania
August 2021
The Greater Good Initiative proposes an amendment to the Public School Code of 1949 to include personal financial literacy as a subject required to be taught to every student in Pennsylvania's education system. To improve personal finance standards, advance economic knowledge, and bolster fiscal responsibility for future generations, ASSET implements a stand-alone high school graduation course requirement to include personal finance concepts & topics, establishes the Personal Finance Education Fund to promote taxpayer inclusiveness, and re-introduces the Task Force on Economic and Personal Finance Education to make further recommendations and adjustments.
7. Amending the standards of student education for teens (ASSET) for the state of Maine
January 2022
In order to proactively bolster financial literacy standards in Maine, The Greater Good Initiative proposes that the state legislature amend Title 20-A Education Statute, specifically Chapter 207-A, Section 4722, to institute at least one personal finance class taken throughout high school as a graduation requirement. By creating a stand-alone course within the states’ graduation requirements, Maine would increase the financial literacy rates of future high school graduating classes and the overall financial well-being of the residents of the state, promote economic equity among marginalized groups, and can be expected to positively impact the state's budget in the long-run.