Duval Times

U.S. Senator Marco Rubio (R-FL) has recently penned an article for the conservative policy journal National Affairs, titled “Industrial Policy, Right and Wrong.” In this article, Rubio critiques the industrial policies of the Biden Administration while proposing a more effective approach for the future.

Rubio highlights the shortcomings of the administration's initiatives, stating, “Hamstrung by industries and activists whose interests conflict with those of the United States, the administration’s initiatives – CHIPS and the IRA – promise many of the downsides of industrial policy (massive spending, market inefficiencies, and top-down social engineering) with too few benefits for national security or the broader public.”

The Senator outlines a path forward, emphasizing the need to correct the failures of the current industrial policies with conservative insights. He suggests prioritizing the national interest, taking a pragmatic approach to regulation, and providing support for entire supply chains. Rubio advocates for a focus on rebuilding the defense industrial base, expanding the list of critical industries, setting clear metrics for industrial policy subsidies, and combining industrial policy with deregulation.

Rubio's proposals aim to enhance the effectiveness of industrial policy and ensure that it serves the best interests of the nation. The article serves as a call to action for a more strategic and impactful approach to industrial policy in the United States.

For more insights into Rubio's stance on industrial policy, interested readers can explore his various initiatives and stances highlighted in related articles, including his efforts to prevent China from flooding the U.S. auto markets, push for the prioritization of defense industrial base needs, and urge the Biden Administration to block certain Chinese entities from accessing U.S. technology.