As we await the national economic summit to take place on June 25 in Washington DC, here’s a guide to the key issues.
What is the National Executive Council?
What is a National Economic Council?
A National Economic Commission (NEC) is a body of experts from the Federal Reserve Board (Fed), the Department of Labor (DOL), and the Treasury Department (Treasury) to help determine the economic priorities of the federal government.
The NEC is composed of Federal Reserve board members, senior economists, and other senior officials from the Departments of Labor, Education, Energy, Commerce, and Housing and Urban Development.
What are the major themes?
What themes will be discussed during the NEC?
In order to shape the economy, the NEC aims to address some of the most pressing challenges of our time: How to make sure all Americans can afford to have a secure, affordable, and sustainable future?
What can the federal and state governments do to improve access to quality health care and to ensure that people can continue to enjoy access to education?
How can the Federal Government increase consumer spending to support growth in our economy?
How do we improve our ability to create jobs?
How to create economic opportunity for all Americans?
What are our best tools to increase our competitiveness?
Who will chair the NEC?
Will the NEC be chaired by someone from a political party?
The NEC will consist of representatives from the Fed, the Department and the Labor Department.
The top representatives of the Fed will chair, and the Fed and Treasury are expected to chair the Commerce and Housing Departments.
Who has the final say in which issues will be considered?
The NEC will consist primarily of Federal and state representatives, but it will also include representatives from business groups, universities, labor unions, environmental groups, consumer groups, religious groups, and others.
How does the NEC operate?
The National Economic Task Force (NESTF) will work with members of the NCEP, as well as the NEC to help guide policymaking on key topics.
Members of the NEC will also work with stakeholders in other Federal departments, agencies, and programs.
How will the NEC address issues affecting people and businesses?
The government’s role is to support and promote economic growth by creating jobs, boosting wages, and ensuring access to higher education, healthcare, and safety.
The NEP will be responsible for developing policies that will support and support those goals, while also protecting the economy.
The National Economy Task Force will be charged with promoting a national economic agenda that promotes a healthy, secure, and prosperous economy, a stable and growing financial system, and an equitable and sustainable national tax system.
Who’s responsible for managing the NEP?
The Secretary of the Treasury will serve as the NEMF chair.
The Treasury will also have an active role in the National Economy task force, but will also lead its own national economic task force.
What do the NECs goals mean?
The goal of the National economic task forces is to promote economic prosperity and create jobs for Americans, with the goal of promoting a healthy economy.
To achieve these goals, the National Council of Economic Advisers (NCEP) will focus on addressing the following key economic challenges: How can we reduce the number of uninsured?
How will we improve the quality of life for Americans?
How are we creating jobs?
What steps can the government take to ensure consumers have access to high quality and affordable health care?
How should we support our businesses, communities, and universities?
How is the government responding to the effects of climate change?
What’s next for the NCP?
In the weeks ahead, the NNEP will make recommendations to the Federal Cabinet for action.
These recommendations will be presented to the Cabinet for its approval.
As the NEC is established, the Federal Trade Commission (FTC) will also be responsible under the Dodd-Frank Act for conducting its own review of the task force’s recommendations.
The FTC will also make recommendations for legislative changes to the legislation that will impact the NSEP and the NCLP.
The President will then sign legislation establishing the National Center for Policy Analysis, which will serve the same function for the NEC.
What can I do about the National Empowerment Task Force?
As part of the Executive Office of the President, the Office of Empowerments will develop the Empowering American Families Act.
The Empowerings Act would provide federal assistance to low-income families, including for food stamps, housing assistance, emergency food assistance, and child care.
It would also support state and local programs to provide financial assistance to families who are unable to meet their basic needs because of the Great Recession.
This would include the Child Tax Credit, which is part of President Trump’s proposed tax reform bill.
What about the NELP task force?
The Office of Economic Opportunity will also establish a task force to promote an America-First Economy.