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What They Are Saying: Rubio Report Prompts Important Discussion

May 17, 2019 | Press Releases

VIDEO: We need to invest in America again

Rubio’s report can be viewed here. 

Rubio prompting discussion about tax policy, investment, workforce development | “Rubio’s … report will provide a public service — if members of Congress use it to renew discussions about effective taxation, investment incentives and workforce development.” (Herald-Tribune Editorial Board, “Editorial: Rubio right to assail corporate priorities,” Herald-Tribune, 5/17/19)

Rubio defends capitalism, highlights need to focus on long-term investment | “But a report issued by U.S. Sen. Marco Rubio hopes to incite business interest in production ahead of financial returns. ‘American Investment in the 21st Century’ makes the long-form case the nation’s economy suffers from chasing short-term returns. The Republican Senator remains an avowed spokesman for Western capitalism but suggests a decades-in-the-making shift in practices hurt U.S. workers…Rubio wants leaders to restore its historic focus on production and growth ahead of quick financial boosts.” (Jacob Ogles, “Marco Rubio’s manifesto: Corporations must value production over profit,” Florida Politics, 5/15/19)

Rubio criticizes short-termism, highlights China threat | “Rubio, the chairman of the Senate Committee on Small Business and Entrepreneurship, faulted CEOs for focusing too much on the next quarter and not enough on the next generation. He blamed warped incentives from Wall Street and Washington for driving this shift…has prompted too many business leaders to care more about returns for shareholders than the people who work for them.” (James Hohmann, “The Daily 202,” The Washington Post, 5/15/19)

Rubio’s big vision to address corporate short-termism | “Marco Rubio has been catching headlines this week following a report he issued about the failures of the current economic and regulatory system to promote long-term investing by US corporations and ways to start fixing it. Financial experts say this report is more unique than others that have come out.” (Jacob Wolinksy, “Rubio Report: Big Vision For Changing Corporate Short-term-ism,” Value Walk, 5/16/19)

Rubio wants to prioritize long-term investment | “Sen. Marco Rubio (R-FL) released a report Wednesday calling on American businesses and policymakers to invest more in domestic capital in the United States and less on short-term profit for lasting economic growth and prosperity.” (Kristina Wong, “Rubio Report Urges Business Community to Invest in Domestic Capital for American Prosperity,” Breitbart, 5/15/19)

Oren Cass: Rubio report illuminates important issue | “The report from Senator Rubio’s committee illuminates a worrisome crack at the foundation of America’s market economy: private enterprise is failing in its indispensable role as the nation’s long-term investor. The problem of declining capital investment has long been discussed, but the outright reversal of financial flows depicted here, with the non-financial business sector becoming a net lender and only government remaining a net borrower, should set off alarms. While government gladly borrows and spends, it is not making investments that will pay long-term dividends; it is funding safety-net and retirement programs that finance immediate consumption. America’s future prosperity depends upon business leaders and entrepreneurs returning to the task of channeling productively the nation’s wealth.” — Mr. Oren Cass, Senior Fellow, Manhattan Institute

Dan DiMicco, Chairman of the Coalition for a Prosperous America | “U.S. economic policy needs to focus on prioritizing investment and growth for the benefit of U.S.-based industry, including jobs and wage levels for American workers. The new report by Senator Rubio is making an important contribution in that direction by calling attention to the lack of investment in U.S. manufacturing industry in the last several decades and offering a way forward. Companies should be run not purely for shareholder benefit, but for the benefit of all the participants in the business.” (James Hohmann, “The Daily 202,” The Washington Post, 5/16/19)

Rubio’s “masterful job” highlighting need to increase capital investment | “In ‘Investment in the 21st Century,’ Senator Rubio has done a masterful job of pulling together multiple strands of economic thought to offer a cogent explanation for a serious drop in capital investment in the American economy. Backed by data and analysis from across the political spectrum, this report explains why large American corporations no longer invest in American innovation or American workers. We have studied these same issues in the context of American manufacturing, and recognize the harm that lack of investment here, coupled with wholesale offshoring of U.S. production, have caused. Loss of productive capacity, know-how, domestic supply chains, and high-paying job opportunities all flow from the weak capital investment documented by Senator Rubio. These trends must change, to rebuild American industry, innovation, and national wealth creation, and to ensure long-term national security. I thank Senator Rubio for shining a spotlight on these critical issues, and look forward to a rigorous national debate to address them.” — Sridhar Kota, Herrick Professor of Engineering, University of Michigan

Rubio recognizes need to invest in long term | “Workers have benefited from the Trump economy, but we need to invest for long term.” (Kevin Derby, “Marco Rubio: Workers Have Benefited from Trump Economy But We Need to Invest for Long Term,” Florida Daily, 5/16/19)

Rubio best attuned to tackle China threat | “Sen. Marco Rubio is the U.S. Senator best attuned to and most focused on the problem China poses to the U.S. and the world at-large. At least that’s what I infer from his public pronouncements on the subject.” (Paul Mirengoff, “Straight Talk About China and Corporate America,” Powerline, 5/17/2019)