Rice University and the Baker Institute for Public Policy have teamed up to provide nonpartisan data and insights on key issues for the upcoming 2024 election in their Policy Playbook series. The briefs cover topics ranging from fiscal policy and science and technology to energy transition and school choice. The series aims to offer critical context, analysis, and recommendations for policymakers governing the U.S. and Texas in 2025.
In terms of fiscal policy, the U.S. national debt has soared to over $35 trillion, with projected deficits of $1.8 trillion in 2024. Rising expenditures from Social Security and government healthcare due to an aging population are contributing to the deficit. Addressing long-term fiscal sustainability is crucial to avoid imposing burdens on future generations.
The U.S. is at risk of losing its leadership in global science and technology, with concerns about inadequate STEM education and a lack of diversity in the workforce. To maintain the nation’s innovative edge, the incoming administration must prioritize federal investment in scientific initiatives.
Despite long-term goals to reduce dependence on oil and emissions, oil is likely to remain the primary fuel source for the U.S. economy. Policymakers must carefully manage oil price volatility while acknowledging the ongoing significance of oil in the energy mix.
Education policy may see significant shifts in Texas, with potential support for education savings accounts (ESAs). Balancing support for ESAs with maintaining strong public education will be key for legislators in the upcoming session.
Overall, the Policy Playbook series provides valuable insights to inform policy leaders and equip them to address critical issues facing the U.S. and Texas in the upcoming election.
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