Laura Lombard: A smarter path for economic recovery

This year has brought us the worst economic downturn and unemployment rates seen since the Great Depression. The next administration and Congress will have tough decisions to make to ensure we move out of the current economic situation. If done right, we can launch ourselves into a renewed period of economic prosperity.

Financial institutions like Moody’s and Goldman Sachs have authored analysis showing that Democratic economic plans will result in a faster and more robust recovery going into 2021. Why? It’s the same concept for building a business. One must invest in infrastructure, personnel, and systems that create efficiency and effectiveness. The same concept needs to be applied on a macro-level by our government. We need to invest in our people, our national infrastructure, and creating an environment for our economy to thrive. Initiatives like the Moving Forward Act would create jobs, rebuild our aged infrastructure, propel our nation’s economy forward into the 21st Century, and protect our environment.

We Kansans know what not investing looks like personally. The failed Brownback Tax Experiment showed us what happens when you do not fund government services like education, road repair, and so much more. Our economy tanked, businesses and our youth left, and we are still digging ourselves out of the enormous financial hole. We shouldn’t repeat this at the national level.

In addition, fixing our international trade policy will help our district and nation recover. We should be tough on China and put pressure on their companies to act as responsible trade partners. However, this cannot come at the expense of our people. Over the last two years, our farmers, manufacturers, and consumers have paid for this unnecessary trade war. No one wins a trade war — and we are not winning this one.

In particular, our farmers have taken a huge financial hit and lost significant international market shares. Our trade policy should result in the opening of markets, while also enforcing good trade relationships. Our farmers should not be the infantry in a fight against China, and it will take years for our agricultural sector to recover from this destructive falsehood and reestablish former exporting partners.

So, how should we deal with a problem like China? Let’s take the example of intellectual property rights. Intellectual property theft is a significant problem as Chinese companies regularly and unabashedly steal U.S. product designs, trade secrets, and brand identities. Instead of placing tariffs on overarching sectors and effectively adding a tax on our people, we should not allow individual violators to sell into the U.S., freeze their U.S.-based assets, and enact other financial penalties. This would send a powerful message to that company and any others in that sector that the U.S. will not tolerate this type of behavior. Going this route would effectively punish trade violations and not result in hurting Kansans in the process.

This year has been one that none of us will ever forget. It will go down in the history books. Yet, just days before an election that will inevitably be remembered as one of the most important in the history of the United States, we still have a choice in what will be printed in those books. That choice is ours to make. What side of history do we want to be on after November 3rd?