Duval Times

Washington, April 2, 2024 - U.S. Senator Marco Rubio has voiced his opinions on industrial policy, criticizing the current approach while outlining his vision for a more effective strategy. In an article published in the Washington Post, Senator Rubio expressed his views on the Biden administration's attempts to reclaim industrial policy through legislative acts.

Rubio highlighted the shortcomings of the Chips and Science Act and the Inflation Reduction Act, stating that the results have not matched the initial intentions. He pointed out how the Chips Act, aimed at enhancing U.S. competitiveness in semiconductors, fell short due to lobbyist influence and regulatory hurdles.

Regarding the Inflation Reduction Act, Rubio lamented its performance, noting that the promised "green manufacturing boom" has benefited China more than the United States. He cautioned against reverting to outdated economic mindsets, emphasizing the importance of strengthening industrial policy with conservative principles.

The Senator advocated for a renewed focus on the domestic industrial base and the working class, emphasizing support for critical industries like mining, oil, gas, and metallurgy. He proposed linking subsidies to performance metrics such as export quotas and emphasized the need for deregulation and permitting reforms.

In conclusion, Senator Rubio emphasized the necessity of a robust and strategic industrial policy that prioritizes American interests and competitiveness.