R Sheet on Economic Mobility

Key Points

Economic mobility is most commonly defined as an individual’s ability to either earn above or fall below their current income bracket.
Policy ideas to increase economic mobility range from direct financial aid to regulatory reform. Federal and state legislatures are searching for politically feasible solutions that do not increase the nation’s financial burden.
Commercial licensing reform is a responsible solution that aims to increase economic opportunity by decreasing regulatory, licensing and other barriers to employment without cost to the taxpayer.

When considering responsible policy solutions to promote economic mobility, lawmakers at the local, state and federal levels should work to decrease the burdens posed by the occupational licenses and fees required to perform certain jobs.

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