A new council period starts in January with the swearing in of new councilmembers. Lack of economic growth and slow job creation are the primary policy problems the District faces. Policies designed to facilitate faster growth and the job creation that comes with it should be at the top of the agenda.
1. Regulatory Review Act — This is a law that will allow District lawmakers to examine the efficacy of regulations before they are implemented. It will require the Office of the Chief Financial Officer to review costs, benefits, and potential impacts on employment. A very rough draft is can be found below. This effort is a direct response to a recent Economic Growth CapitalDecsion2014 Poll question in which we asked likely voters if they would favor or oppose requiring DC Council members to study the economic impact their proposals will have on DC businesses and residents before they make decisions. 83% of the poll’s respondents favor such a practice.
2. Labor Law Overhaul — The District’s labor laws collectively create perverse incentives that encourage employers to move out of the District once they reach a certain size and a certain number of employees. Economic Growth DC would like to work with the Council to reform our labor law architecture to remove the incentives that cause many growing businesses to move to the suburbs.
3. Making the District a Financial Center — The District government should constantly be seeking out opportunities to foster new economic activity. This particular effort will require the cooperation of Congress, but it could provide us an opportunity to become a global player in certain insurance markets, bringing thousands of high paying jobs to the District. The concept is illustrated in the attached paper by Larry Mirel, the District’s former Director of the Department of Insurance, Securities and Banking.
4. 3D Printing Legislation — The District is only 67 square miles, and the land is very expensive. We will never be a manufacturing center, but due to the birth of an entirely new industry, it is possible for the District to create a specialty manufacturing sector through the use of 3D printing. We’d like to help the Council draft legislation that would make it easy to create and launch a 3D printing business in the District.