Competitiveness

No More Reacting: An Argument for a Clean Industrial Policy—and Against Competitiveness as an Organizing Economic Principle

Moving beyond the failures of the Trump administration, the United States will need to embrace a strategy for fighting the climate crisis that prioritizes values such as support for working people and establishes a precedent for international collaboration.

How the Iran War Will Undermine U.S. Competition With China

In an op-ed for The National Interest, Michael Schiffer writes that the war with Iran undermines U.S. competition with China.

The Paramount/Warner Bros. Merger Is Not What a Free Press Looks Like

In an op-ed for The Contrarian, Neera Tanden argues that the merger between Paramount and Warner Bros. Discovery is bad news for the United States' economy and its democracy.

How States Can Combat Health Care Consolidation and Corporate Conflicts of Interest

States have several policy levers they can use to curb consolidation and corporate conflicts of interest, protecting competition and lowering costs.

Video Explainer: Trump’s Attacks on Multilateralism Make America Weaker, Not Stronger

Multilateralism does not restrain the United States on the world stage; it provides a means to support the peace, security, and prosperity of the American people.

Trump’s Attacks on Multilateralism Make America Weaker, Not Stronger

Multilateral organizations like the United Nations and World Health Organization and international forums like the G20 and G7 do not restrain the United States on the world stage; they provide a means to support the peace, security, and prosperity of the American people.

The Trump Administration’s Hostility to Legal Immigration Harms America’s Global Leadership in Innovation

By targeting legal immigration, the United States is signaling to the best and brightest talent around the world that they are unwelcome, harming U.S. leadership in innovation that has strengthened the economy for all Americans.

The Trump Administration Continues To Demonstrate Its Failure To Appreciate the Plight of American Farmers

China’s boycott of American soybeans may be resolved, but the episode exposed deeper, longer-term challenges that cannot be solved with a one-time bailout or a purchase commitment by foreign buyers that can be turned off at any time.

Trump Hands China Clean Manufacturing Dominance on a Silver Platter

In an op-ed published by DC Journal, Kalina Gibson and Leo Banks argue that President Donald Trump is undermining the future of American manufacturing by remaining laser-focused on fossil fuel production, while the rest of the world turns to China for help making the switch to clean energy.

China First: The Trump Administration Has Willfully Destroyed U.S. Levers of Power in Advance of the APEC Summit

The Trump administration has both sabotaged the sources of American strength and competitiveness at home and dismantled American power and influence abroad, leaving the country in a weak, compromised position as President Trump heads to the APEC summit to negotiate with Chinese President Xi Jinping.

The Transatlantic Rift: The Trump Administration’s Unilateralism Undermines a Coordinated China Strategy and Weakens America

The Trump administration has shattered the transatlantic alliance, squandering a key edge over China and leaving America weaker, poorer, and more isolated.

Securing American Competitiveness: Building a Clean and Cyber-Resilient Manufacturing Sector

As the United States invests in transforming its manufacturing sector to reduce emissions and produce clean technologies, it has an opportunity to strengthen cybersecurity simultaneously.

House Republicans Are Giving Up on U.S. Manufacturing

Claims from congressional Republicans and the Trump administration that supporting domestic manufacturing is a priority are completely undercut by their efforts to strip incentives and kill successful programs.

President Trump Says He Wants More U.S. Shipbuilding—Here’s How To Do It Well

To improve U.S. shipbuilding capacity, policymakers should learn from a successful shipbuilding program of the past, using public investment, guaranteed demand, and cooperation with the private sector to create good jobs and bolster competitiveness.

10 Trump Administration Actions That Could Lead to Higher Electricity Prices

Electricity prices are spiking, and the Trump administration’s actions are further increasing costs for working people while enriching billionaire oil and gas donors.

Trump Forfeits U.S. Global Leadership at Americans’ Expense and to China’s Gain

President Trump’s retreat from global leadership threatens American strength, security, and prosperity, leaving a vacuum for China to fill; and a world where China sets the rules is not one friendly to Americans.

Chaos Reigns: Gambling the Future of American Manufacturing

The Trump administration has thrown investment certainty to the wind, with potentially devastating long-term consequences.

Trump is using tariffs as a blunt-force tool. It won’t work

In an op-ed published by The Guardian, Mike Williams argues that tariffs can be a necessary tool to level the playing field in steel trade, but they will not incentivize the kind of investment in modern, low-emissions technologies the industry needs to reverse its current decline.

Policies To Combat Anticompetitive Practices in Health Care

Using their market power, health care providers and payers often leverage anticompetitive contracting terms to maximize profit at the expense of patient access and affordability.

Progressive Principles for the 2025 Tax Debate: Having No Deal Is Better Than Having a Bad Deal

Facing the $4 trillion expiration of the Trump tax cuts next year, Congress must not greenlight a tax deal that will worsen income inequality and lose revenue.

Lower Costs Through Better Competition

Please join the Center for American Progress for an event featuring FTC Chair Lina Khan and Sen. Ben Ray Luján (D-NM) about protecting consumers and preserving competition.

New Samsung Semiconductor Plant in Taylor, Texas

An investment by Samsung, spurred by funding from the CHIPS and Science Act, will create a new semiconductor plant in Taylor, Texas, to complement the company’s previous investment in chips in Austin, Texas.

Increasing Competition and Fairness in Food and Agricultural Markets

Please join the Center for American Progress for an event that will highlight important actions the U.S. departments of Justice and Agriculture have taken to make the country's agricultural markets both more fair and more competitive.

CAP Responds to Request for Information on Consolidation in Health Care Markets

The Center for American Progress submitted a response to the U.S. Department of Justice, Federal Trade Commission, and U.S. Department of Health and Human Services’ request for information on consolidation in health care markets.

Investing To Be Competitive: The New U.S. Industrial Strategy

The new industrial strategy will transform the auto, energy, and semiconductor sectors; reduce carbon emissions; and support increased worker wages.

The Dangers of a Twitter Bankruptcy or Acquisition

Elon Musk’s purchase of Twitter is financially precarious, and his need for cash could result in bankruptcy—a sale that could reinforce existing Big Tech companies or open up access to sensitive data.

3 Antitrust Lessons From the Taylor Swift Ticketmaster Debacle

Ticketmaster’s bungling of Taylor Swift tickets illustrates the importance of market competition and vigorous antitrust enforcement.

Testimony Before the US Senate Committee on Agriculture, Nutrition, and Forestry

Todd Phillips testified before the Senate Committee on Agriculture, Nutrition, and Forestry about S. 4760, the Digital Commodities Consumer Protection Act.

The SEC’s Regulatory Role in the Digital Asset Markets

As the markets for digital assets such as cryptocurrencies grow, the U.S. Securities and Exchange Commission and other financial regulators must impose sensible regulations on digital assets to protect traders and investors.

5 Priorities for the Financial Stability Oversight Council

A vigorous FSOC could go a long way toward creating a U.S. financial system that is resilient and positioned to support long-term growth.

Fact Sheet: Rebuilding the Competitiveness of U.S. Domestic Manufacturing

This fact sheet outlines policy changes to make U.S. manufacturing more globally competitive, provide higher wages, and reduce supply chain risk.

Building U.S. Manufacturing Competitiveness and Capacity

Policy change can make U.S. manufacturing more globally competitive, provide higher wages, and reduce supply chain risk.

Switching to Responsible Banking

By enhancing information on environmental, social, and governance matters in banking and facilitating competition, the CFPB and bank regulators can reduce financial abuses and empower consumers to align the financial system with sustainable values.

Promoting Climate-Resilient Agricultural and Rural Credit

The climate crisis may have serious implications for agricultural finance.

Using Antitrust Law To Address the Market Power of Platform Monopolies

Evidence suggests that large digital service platforms with market power deserve much closer antitrust scrutiny.

Protecting American Consumers in Crisis

Consumer protections should be strengthened—not rolled back—as part of the economic response to the coronavirus.

Bank Capital and the Coronavirus Crisis

The Federal Reserve must reverse course on costly bank capital mistakes that have increased the vulnerability of the banking system in the face of the coronavirus pandemic.

Climate Change and Municipal Finance

To address the fact that economic shocks caused by climate change will reduce state and local tax collections and increase infrastructure costs—creating additional risks for municipal bond investors—state and local issuers should adopt new climate risk disclosure standards to ensure accurate risk assessment and bond pricing.

Oversight and Implementation Will Determine the Effectiveness of the New Laws Responding to Coronavirus

The public health and economic recovery hinge on the effective implementation and oversight of Congress’ coronavirus legislation.

The Economic Fallout of the Coronavirus for People of Color

Occupational segregation, employment discrimination, and exploitation make economic downturns, such as the one created by the COVID-19 pandemic, worse in communities of color by destabilizing jobs, undermining small businesses, and increasing income shocks and unexpected expenses.

How Congress Can Help Small Businesses Weather the Coronavirus Pandemic

Any new funding for the Paycheck Protection Program must provide immediate cash to the smallest businesses in order to protect them from the COVID-19 fallout.

Structural Changes Are Needed To Address Coronavirus

Big reforms are necessary to protect public health, mitigate the risks of future outbreaks, and ensure the eventual recovery benefits most Americans.

Industry and Firm Bailouts Amid the Coronavirus Pandemic

Conditions on bailouts are necessary to protect workers and the public.

Public Health Requires an Extraordinarily Aggressive Economic Response to Coronavirus Immediately—One That’s Larger Than What Many Imagine

The column recommends an immediate package at least the size of the Recovery Act in 2009—around $1 trillion in today’s dollars.

Climate Change Threatens the Stability of the Financial System

U.S. regulators should protect the financial system from climate-related risks and help facilitate a smooth transition to a greener economy.

Fact Sheet: A Stronger Regulatory Framework for Shadow Banks

Improving the regulation of large, complex, and interconnected shadow banks and their activities would help to protect the economy from another financial collapse.

Tailoring Banking Regulations to Accelerate the Next Crisis

Regulators have taken several actions that needlessly increase the likelihood of another financial crisis.

A Fair Deal for Farmers

Through an analysis of two agricultural markets, this report illuminates the concerning trend of corporate consolidation in agriculture—and the damaging impact this trend has on independent family farms.

Forced Arbitration: What You Need To Know

Forced arbitration agreements make it harder for workers and consumers to challenge predatory practices, wage theft, and discrimination.

Toward a Robust Competition Policy

Entry barriers in many sectors—especially in communications services, health care, and information technology—have created an environment in which firms can earn profits well above competitive levels.

Fact Sheet: Toward a Robust Competition Policy

The rise of firms earning monopolistic returns calls for new policy measures to reduce barriers to entry and increase competition.

States Must Act to Protect Workers From Exploitative Noncompete and No-Poach Agreements

State lawmakers can boost wages and encourage entrepreneurship by restricting noncompete and no-poaching agreements.

‘It’s a New Day’: In Conversation With Chairwoman Maxine Waters

This week, Rep. Maxine Waters discusses her top priorities in her new role as chairwoman of the U.S. House Financial Services Committee—and how she plans to hold the Trump administration accountable.

How Workers Get Paid Is Changing: Consumer Protections Need to Catch Up

Workers are increasingly receiving their compensation through payroll cards, and policymakers should take steps to ensure the safety of these financial products.

Provider Consolidation Drives Up Health Care Costs

Americans would benefit from stronger antitrust enforcement, more competition, and fairer prices in the markets for hospital and physician services.

Big Business’s Bonanza Week in the Supreme Court

The new 5-4 conservative majority is likely to rule against the legal rights of workers and consumers.

Hollowing Out the Volcker Rule

Regulators’ proposal to weaken the Volcker Rule would expand loopholes, narrow definitions, give banks leeway to govern themselves, and introduce more risk into the banking sector.

Corporate Long-Termism, Transparency, and the Public Interest

Boosting SEC-regulated transparency on environmental, social, and governance matters can help align the interests of investors, management, and the public towards shared long-term success.

Indexing Capital Gains to Inflation Will Only Further Rig the Economy Against Workers

The Trump administration’s plan to allow capital holders to index their assets to inflation is the latest attempt to benefit the wealthy as it takes steps to cut workers’ pay and retirement savings.

Big Business Rules American Agriculture—and Congress Doesn’t Seem to Care

Farmers are feeling the substantial consolidation across many agricultural markets, yet the issue is conspicuously absent from the current Farm Bill debate.

How a GOLIATH Act Could Restore Consumer Rights

Restoring Americans’ ability to hold companies accountable would rebuild consumer power and trust in government.

5 Questions for the Fed’s Vice Chairman for Supervision

The Fed’s vice chairman for supervision will face questions on a range of financial regulatory issues when he testifies on the Hill this week.

Fact Sheet: The Senate’s Bipartisan Dodd-Frank Rollback Bill

S. 2155—the Economic Growth, Regulatory Relief, and Consumer Protection Act—has a multitude of misguided and risky provisions.

10 Years Later: The Financial Crisis State by State

States were devastated by the financial crisis, and Congress should not plant the seeds of the next one through deregulation.

The Trump Administration Is Quietly Slashing Financial Stability Funding

Gutting funding for the Financial Stability Oversight Council and the Office of Financial Research does not save taxpayers a dime and makes the U.S. financial system less safe.

7 Ways Congress Could Give More Leverage to Consumers and Small Businesses in the Financial Marketplace

In a time of record bank profits, Congress should enact new protections instead of rolling back regulations.

Resisting Financial Deregulation

Improving economic growth requires strengthening and better implementing financial stability reforms—not eroding them.

English v. Trump and the Future of the CFPB’s Independence

While the Dodd-Frank Act would clearly place Leandra English in charge of the consumer bureau, vital consumer protections hang in the balance from the Trump administration’s contested appointment.

3 Flawed Banking Industry Arguments Against a Key Postcrisis Capital Requirement

The banking industry is pushing for changes to the supplementary leverage ratio, but their arguments miss the mark.

Deregulating AIG Was a Mistake

Material financial stress at insurance giant AIG could still threaten U.S. financial stability.

Hedge Funds and Systemic Risk Missing From the FSOC’s Agenda

U.S. Treasury Secretary Steven Mnuchin has failed to update the public on the Financial Stability Oversight Council’s investigation into the potential systemic risks posed by the hedge fund industry.

House Budget Would Raise Borrowing Costs for the Middle Class

By adopting fair-value accounting, the House budget would put college attendance and home buying out of reach for many families.

6 Must-Ask Questions of All Nominees for the Federal Reserve System

With many seats open at the Fed, it’s crucial for Congress to ensure that monetary policymakers are focused on growing the economy by improving the labor market for everyone.

2 Questions for Trump’s ‘Regulatory Czaritsa’ Nominee

Senators must ask Neomi Rao, the radical opponent of regulation President Donald Trump has nominated to head an office charged with reviewing and improving rules, if she will do her duty.

The Regulatory Accountability Act Would Spread the Asbestos Problem

President Donald Trump’s Regulatory Accountability Act would result in more public health disasters by hamstringing federal agencies’ efforts to respond to emerging threats.

The Powerful Corporations Pushing to Unravel Protections for Consumers, Public Health, and the Environment

During the first three months of 2017, at least 72 corporations and trade associations lobbied Congress to block federal agencies from taking new action to protect consumers, the environment, and public health.

Trump’s Regulatory Accountability Act Is a License to Kill

The Regulatory Accountability Act would make it nearly impossible for agencies to provide important health, safety, and consumer protections.

Please Stand Up If You Support Financial Deregulation

Congress inches closer to financial deregulation despite public desire to hold the sector accountable.

Trump’s 100 Days of Failing Working Americans

While President Donald Trump promised to lead a “worker’s party,” he has stood up for wealthy corporations—not workers—in his first 100 days in office.

Trump at 100 Days: Case Studies of Trump’s Self-Serving, Special Interest Government

President Trump and those who serve in his administration make policy that benefits themselves and special interest elites like them at the expense of ordinary Americans who placed their faith in him.

Filling the Void: New CFPB Collection Could Help Protect Student Loan Borrowers

The CFPB’s proposed initiative would collect data from student loan servicers to improve student loan servicing in the best interest of students.

The Big Lie that Conservative Policies Are Good for Small Business

This column busts five myths about how business regulation, tax giveaways, competition, and the Affordable Care Act affect small businesses.

Prepaid Card Users in Every State Could Lose Protections

Undoing the prepaid rule would leave thousands of households in every state vulnerable to unsavory practices.

President Trump’s Dangerous CHOICE

The Financial CHOICE Act would dismantle the Dodd-Frank Act, which was put in place to rein in Wall Street after the 2007–2008 financial crisis, and would put the U.S. economy—and the American taxpayer—on a path toward similar devastation.

An Analysis of the House Republicans’ Plan to Dismantle Financial Reform

This fact sheet summarizes CAP's analysis of the Financial CHOICE Act, which would dismantle the Dodd-Frank Act, putting the U.S. economy—and the American taxpayer—on a path toward devastation.

Nevadans Can Take a Stand Against Conflicted Financial Advice

CAP Director of Consumer Finance Joe Valenti testified before the Nevada Senate Committee on Commerce, Labor and Energy on conflicted financial advice.

The 2008 Housing Crisis

Contrary to conservative arguments, the 2008 housing crisis was caused by unregulated and loosely regulated private financial entities—not the federal government’s support for homeownership.

Strange Things Are Afoot at the Richmond Fed

The surprise resignation of Richmond Federal Reserve Bank President Jeffrey Lacker calls for an especially transparent approach to finding his successor.

Communities of Color Cannot Afford a Weakened CFPB

The Trump administration and Congress are threatening the Consumer Financial Protection Bureau’s role in defending communities of color in banking.

The Importance of Dodd-Frank, in 6 Charts

Financial reform remains a vital component to the health and safety of the U.S. economy.

Senators Must Ask Gorsuch If He Will Force Americans into Arbitration

Judge Neil Gorsuch’s confirmation could lead to continued erosion of justice for wronged consumers and workers.

Who Pays for Rolling Back Regulations?

Congress and the Trump administration are attacking federal protections that save Americans money and even save their lives.

Questions for the Potential Next Sheriff of Wall Street

In his confirmation hearing, Securities and Exchange Commission Chair nominee Jay Clayton must address important questions on how he will approach key issues facing the agency, investors, and the U.S. economy.

Congress Moves to Prioritize Corporate Profits over Health and Safety

Congress is considering legislation that would force federal agencies to prioritize corporate cost savings over public health and consumer safety.

For Congressional Republicans, Wall Street Trumps Main Street

Republicans have weaponized an obscure legislative provision to quickly repeal nine rules issued under Dodd-Frank, raising the risks of another disastrous financial crisis.

First Prepaid Cards, Then the Rest of Your Wallet

Americans’ finances are in danger from regulatory rollbacks against the Consumer Financial Protection Bureau.

Why We Need a Strong CFPB, in 5 Numbers

The Consumer Financial Protection Bureau’s record speaks for itself despite special interests’ efforts to derail it.

The Limitations of Monetary Policy as a Financial Stability Tool

Policymakers will resign the U.S. economy to slower growth if they use tighter monetary policy as a substitute for available regulatory tools to achieve financial stability.

The Fed Relies on Healthy Banks to Transmit Monetary Policy

As economists learn more about how monetary policy works, it has become increasingly important to understand the role of banks.

In Reality, Monetary Policy Is More Complicated Than the Traditional View

Researchers and policymakers have dug deeper into how monetary policy works over the past generation. Here are some of the major insights.

The Traditional Explanation for How Monetary Policy Affects the Economy

Getting up to speed on how monetary policy affects the economy is not hard, and it is important to understand where economists are and how they got here.

Phantom Illiquidity

The U.S. financial sector’s claims that fixed-income markets face serious liquidity issues do not hold water.

Reforming Regulation

The regulatory process suffers from delay, inaction, and capture. Here are nine ways to make it better.

The First G-20 Fossil Fuel Subsidy Peer Review

The United States and China take the lead in identifying their own wasteful fossil fuel subsidies in a coordinated peer review.

What to Expect from the FDIC’s Unbanked Survey

New data on financial behavior and attitudes will update the state of financial inclusion.

How Predatory Debt Traps Threaten Vulnerable Families

Risky payday and auto title loans threaten not just families’ balance sheets, but their overall well-being.

5 Steps to Address Corporate America’s Short-Termism Problem

Here are five ways that policymakers can fix corporate America’s increasingly myopic behavior and create a sustainable long-term economy.

The Case Against Mandatory Consumer Arbitration Clauses

Federal agencies are looking to limit rip-off clauses in fine print that deny access to justice.

Many Happy Returns for Consumers: The CFPB at 5 Years

Policymakers should support the Consumer Financial Protection Bureau for its efforts to hold banks accountable and to rebuild public trust.

Reviving Antitrust

Rising income inequality, stagnant middle-class incomes, and growing evidence of increasing market power in parts of the U.S. economy all point toward the need for a renewed focus on antitrust enforcement.

Protecting Communities on the Road to Recovery

Strong standards are critical to ensure that the Distressed Asset Stabilization Program protects homeowners and neighborhoods still recovering from the housing crisis.

Infographic: Payday Loans: Beneath the Surface

Adopting a strong rule on payday and auto title loans would greatly reduce the potential for predatory loans to destabilize families and communities.

Workers or Waste?

Better disclosure of human capital investments would be a win for investors, managers, and workers.

A Secure Retirement Demands Limiting Conflicts of Interest

The U.S. Department of Labor’s final rule on conflicts of interest will protect savers and retirees, as well as improve trust in financial advice.

5 Trends to Watch in Consumer Finance

Expanding opportunity through finance demands attention to demography, technology, and sound public policy.

Gutting Financial Regulations Won’t Help Community Banks

Policymakers can take action to boost rural community banks without a broad rollback of consumer financial protections.

Financial Rollbacks Would Leave Coal in Consumers’ Stockings

Congress should not use a budget deal to roll back financial reforms that protect consumers and the broader economy.

Long-Termism or Lemons

Corporate America’s growing focus on short-term profits instead of long-term value hurts shareholders and the middle class alike. Here is an agenda to nudge markets to focus on the long term.

Consumer Protection and Higher Education Financing Alternatives

Rohit Chopra, Senior Fellow at the Center for American Progress, testified before the U.S. Congress Joint Economic Committee.

The Fiduciary Rule Would Put Savers’ and Retirees’ Best Interests First

Joe Valenti, Director of Consumer Finance, testifies before the U.S. Department of Labor.

Cash Management Rule Maximizes Student Access to Financial Aid Dollars

The U.S. Department of Education’s proposed regulations of campus financial products would ensure that students’ best interests are met.

Improving Student Loan Servicing

The Center for American Progress makes comments to the Consumer Financial Protection Bureau on ways to improve student loan servicing.

Many Successes in Just a Few Years: The Consumer Financial Protection Bureau Turns 5

As critics call for deregulation, the CFPB demonstrates America’s need for a financial referee.

How to Foster Long-Term Innovation Investment

Ensuring that equity markets serve investors who take the long view of companies’ growth prospects is important for corporate bottom lines and economic growth.

A Carbon Tax and the Clean Power Plan Would Work Together to Cut Greenhouse Gas Emissions

The Clean Power Plan and a carbon tax are complementary—not mutually exclusive.

The Need to Protect Private Enforcement Mechanisms

A recent Delaware Supreme Court decision threatens to undermine shareholders’ abilities to bring private litigation against corrupt companies.

The Concept and Potential of Adaptation Markets

The idea of adaptation markets is relatively new and unfamiliar, but they could be valuable tools to build resilience to the effects of climate change.

Pfizer’s Tax-Dodging Bid for AstraZeneca Shows Need to Tighten U.S. Tax Rules

Pfizer’s attempt to move its headquarters out of the United States by acquiring the U.K.-based AstraZeneca corporation highlights why the United States must prevent these kinds of corporate inversions—and why corporate tax reform must not become a race to the bottom.

Chairman Fred Hochberg on American Competitiveness

Regulatory Burdens: The Impact of Dodd-Frank on Community Banking

CAP Senior Fellow Brad Miller testifies before the House Committee on Oversight and Government Reform.

Protecting Consumers and Preserving Lending Programs

The Center for American Progress Housing team submits comments to the Consumer Financial Protection Bureau on the qualified mortgage rule’s concurrent proposal.

Examining the Increase in Prepaid Cards as Alternatives to Bank Accounts

The Center for American Progress responds to the 2011 National Survey of Unbanked and Underbanked Households.