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Financial Regulation News - Congress needs to address challenges of rural America, according to Joint Economic Committee Democrats

Democrats on the Joint Economic Committee recently said rural America faces unique economic challenges that must be addressed by Congress.

A new report, “Understanding the Economic Challenges in Rural America,” finds that declining population, limited employment opportunities, an education gap, and lack of public investment pose serious challenges to the economic vitality of rural communities. These communities also face a series of structural challenges, such as geographic remoteness and insufficient infrastructure.

“In New Mexico and across the nation, working to address the challenges in rural communities is not only vital to the success of our future economy, but to the livelihoods of millions of Americans who deserve a fair shot at getting ahead,” Sen. Martin Heinrich (D-NM), ranking member of the Joint Economic Committee, said.

The report concludes that addressing the challenges facing rural communities require a comprehensive strategy that takes stock of the existing assets and needs in rural America.

“Whether it’s improving access to broadband, diversifying the economy, or investing in infrastructure, workforce development and our community colleges, Congress has the opportunity to play the defining role in how rural communities develop and thrive. I will continue to develop real solutions that will actually work to make life better in rural America,” Heinrich said.

Find the article here.