By Mike Horrigan, President, Upjohn Institute
At this year’s National Association for Business Economics (NABE) Policy Conference, I had the opportunity to moderate a thought-provoking plenary session with two former members of the President’s Council of Economic Advisers: Heather Boushey (Biden Administration, 2020-2024) and Tyler Goodspeed (Trump Administration, 2019-2021).
The session, titled “Policies to Promote a Vibrant Economy,” highlighted two distinct approaches to fostering long-term growth, productivity, and resilience in the U.S. economy.
Long-Term Perspectives
Heather emphasized policies that promote good-paying jobs, ensure fair and competitive markets, and invest in key industries such as clean energy, semiconductors, and infrastructure. She also stressed the importance of reducing income and wealth inequality.
Tyler focused on tax policies designed to incentivize innovation, capital investment, and job creation, which he argued would boost labor force participation and long-term economic growth. He cited the 2016-2020 economy as an example of these policies’ success in reducing income inequality.
Points of Agreement
Despite their differing approaches, Heather and Tyler acknowledged several key economic challenges.
Heather pointed to political instability in Washington, potential cuts to Medicaid and Medicare, government downsizing efforts, and the imposition of highly variable tariffs as pressing concerns. Tyler, taking a macroeconomic view, noted that real disposable income has been growing more slowly than personal consumption expenditures, raising concerns that rising consumer debt could eventually curb spending.
Both panelists agreed on the challenges posed by China’s economic rise. They cited China’s 2000 entry into the World Trade Organization -- the so-called “China shock" -- as a turning point, leading to U.S. industries losing market share both domestically and internationally.
Tariffs were another area of general agreement, though their perspectives differed. Tyler saw tariffs as one of three tools -- along with subsidies and trade quota -- to support domestic production. Heather acknowledged the Biden Administration’s use of targeted tariffs to protect specific industries but expressed concern over the chaotic way tariffs are currently being implemented.
Diverging Perspectives
On the future of mobility and electric vehicles (EVs), Heather warned that prioritizing internal combustion engine technology over EVs could harm the domestic auto industry in the long run. Tyler, in contrast, questioned whether government-backed EV investments were the most cost-effective way to reduce carbon emissions.
Another key area of debate was the future of federal statistical surveys. Heather strongly supported greater investment in data collection, AI-driven analytics, and cross-agency data sharing to improve economic insights. Tyler was less concerned, arguing that private-sector data has historically filled gaps left by government statistics.
Moving Forward
Despite their differences, both panelists agreed on the need for policies that foster innovation, job creation, and economic resilience. The debate over how best to achieve these goals will continue, but discussions like this one are critical to shaping informed, forward-looking policy decisions.
The full session can be viewed below. Horrigan's discussion with Boushey and Goodspeed starts 1 hour, 39 minutes in.