Florida Governor Ron DeSantis has presented an extensive and ambitious 10-point economic policy plan, which lays out a strategic vision for bolstering the nation’s economic strength. The plan’s primary focus is on reducing trade ties with China, cutting excessive regulations, revitalizing the country’s energy production, and reining in the influence of the Federal Reserve.
During his 45-minute speech at a warehouse in Rochester, New Hampshire, on July 31, Governor DeSantis passionately advocated for American families to attain “economic independence” from the ruling class that has, in his view, dictated the nation’s economic policies for over four decades. He branded his plan as the ‘Declaration of Economic Independence,’ aimed at rectifying the perceived lack of vision in the economy, especially during the Biden administration.
The roll-out of this economic policy comes as part of a series of strategic moves by DeSantis’ campaign, aiming to solidify key planks in its platform leading up to the Republican National Committee’s first debate in Milwaukee. Despite facing a considerable gap in the latest polls compared to former President Donald Trump, DeSantis and his team are working to shift their focus beyond simply being an “anti-woke” culture warrior. Instead, they highlight their national policy aspirations while tempering their reliance on citing Florida’s achievements.
At the heart of DeSantis’ economic plan are the following crucial components:
- Strategic Decoupling from China: This central aspect of the plan strongly emphasizes reducing trade ties with China, aiming to eliminate trade deficits and preferential trade status. Moreover, DeSantis seeks to incentivize investments that repatriate American capital and spur economic growth domestically.
- Promoting Economic Growth: Governor DeSantis is adamant about achieving a minimum annual GDP growth rate of 3%. To accomplish this, he proposes streamlining the tax-financed bureaucracy and eliminating burdensome regulations, which he perceives as the major hindrances to economic expansion.
- Achieving Energy Independence: DeSantis’ plan highlights the immense potential of the United States’ oil and gas resources, which he believes can drive down inflation and enhance consumer affordability. More importantly, he vows to reject President Biden’s Green New Deal and instead opt for an approach prioritizing the nation’s energy security.
- De-politicizing the Economy: the plan aims to curtail the influence of environmental, social, and governance investment criteria (ESG). The goal is to build a more objective and unbiased economic system.
- Restore merit in the individual: DeSantis see this as the main factor driving economic progress and is currently working together with the recent affirmative action decision made by the U.S. Supreme Court.
- Reforming the Education System: DeSantis seeks comprehensive reforms in the education sector. This includes championing parental rights and supporting universal school choice at the K-12 level. Furthermore, he aims to bolster workforce education and technical training to provide young people with diverse career opportunities.
- A Strong and Fair Labor Market: DeSantis places great importance on securing the nation’s borders and ending illegal immigration. He asserts that immigration policies should prioritize benefits to American workers and their wages rather than facilitating workforce exploitation.
- Rein in the Federal Reserve: This critical aspect of the plan aims to restore the Federal Reserve’s original mandate of maintaining stable prices, detaching it from any engagement in social engineering. DeSantis aims to refocus the institution solely on its core responsibility.
- Holding Economic Actors Accountable: The plan advocates for robust accountability measures to ensure those responsible for negative economic impacts are liable for their actions. DeSantis vows to eliminate any form of socialism for the wealthy, instead favoring an equitable approach that benefits small businesses and working-class individuals.
- Curbing Federal Spending: DeSantis supports the implementation of a constitutional amendment for a balanced budget. This would mandate Congress to limit their spending to reasonable levels. He also supports introducing term limits for members of Congress to foster greater fiscal responsibility.
Governor DeSantis’ economic policy roll-out in New Hampshire was a pivotal moment in his campaign, showcasing his dedication to charting a bold economic vision for America’s future. With his passionate advocacy for strategic decoupling from China, cutting excessive regulations, and promoting energy independence, DeSantis demonstrated his commitment to empowering American families and fostering economic independence. As he seeks to differentiate himself beyond the “anti-woke” culture warrior image, his comprehensive plan is a testament to his determination to bolster the nation’s economic strength and secure a brighter future for all Americans. This event marks a significant milestone in his campaign as he continues to build momentum and solidify his position as a key contender in the 2024 election cycle.