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1、 O F F I CE O F T H E CH I E F E CO N O MI S T 1 THE ECONOMICS OF INVESTING IN AMERICA National Economic Council Investing in America Chief Economist July 2023 THE ECONOMICS OF INVESTING IN AMERICA Page 2 2 of 1515 CONTENTS 1.Introduction.3 2.Strategic Investment.5 A.Investing in the foundational in

2、frastructure that is necessary for all industries to thrive.5 B.Supporting targeted investments in semiconductors,clean energy,and electric vehicles.5 C.Investing along the innovation to commercialization pipeline.7 3.Middle Out,Bottom Up.9 A.To succeed,we need to empower workers and create opportun

3、ity.9 B.To succeed,we must rebuild and strengthen local communities.10 C.To succeed,we must increase resiliency within and across industries and supply chains.11 D.To succeed,we must ensure fair competition.12 E.To succeed,we must invest alongside our global economic allies and partners.13 F.To succ

4、eed,we must overcome barriers to scaling production.13 4.Conclusion.15 Investment is up.4 Building a new electric vehicle charging industry from scratch.8 Mobilizing private capital in semiconductors and clean energy technologies.14 Growing our domestic manufacturing footprint for broadband infrastr

5、ucture.15 POP OUT BOXES WERE SEEING SUCCESS THE ECONOMICS OF INVESTING IN AMERICA Page 3 3 of 1515 1.Introduction In what has been known as trickle-down economics,policymakers cut taxes for big corporations and the wealthy and claimed this was the best way for the economy to grow.But this also meant

6、 severely reducing public investment in infrastructure,education,and more.Some of these tax policies also made offshoring to lower-taxed countries more attractive.Meanwhile,as the government pulled back from supporting American manufacturingeven at the expense of losing good American jobs and our co