Bill Overview
Title: DHS Trade and Economic Security Council Act of 2022
Description: This bill establishes an advisory council within the Department of Homeland Security (DHS) and sets out other efforts to address economic security and trade, as such matters relate to DHS's mission. Specifically, DHS must establish the DHS Trade and Economic Security Council, comprised of component heads or their designees, to advise on economic security concerns, such as identification of concentrated risks and priorities for protecting the nation's economic security. Additionally, the bill provides statutory authority for the Office of the Assistant Secretary for Trade and Economic Security and specifies its functions and duties. These include, among other responsibilities, coordination of supply chain policy.
Sponsors: Sen. Portman, Rob [R-OH]
Target Audience
Population: People affected by economic security and trade policies
Estimated Size: 331000000
- The bill establishes a council within the Department of Homeland Security (DHS) focused on economic security and trade, which are matters of wide-reaching impact.
- Trade and economic security issues generally affect industries including manufacturing, agriculture, and technology, impacting businesses and workers in these sectors.
- The coordination of supply chain policy could influence a broad range of industries reliant on both domestic and international supply chains.
- Economic security is a matter that directly ties into national security, impacting citizens by influencing job security, consumer prices, and overall economic stability.
Reasoning
- The budget of $15 million in the first year suggests a relatively modest intervention compared to the nationwide scale of impact; therefore, the individual impacts will likely be nuanced and relatively small at an individual level.
- People in key industries such as manufacturing, agriculture, and technology are likely to be more directly affected due to their reliance on supply chain and trade policies.
- Given the broad influence of trade policies, a diverse sample in terms of geography, occupation, and demographics is needed to accurately simulate potential impacts.
- Some individuals, particularly those not actively engaged in industries significantly reliant on trade and supply chains, might not notice distinct personal impacts in the short term.
- The policy could have differing long-term effects depending on how successfully it mitigates concentrated risks and enhances economic stability.
Simulated Interviews
Automotive Manufacturing Manager (Detroit, MI)
Age: 45 | Gender: male
Wellbeing Before Policy: 6
Duration of Impact: 10.0 years
Commonness: 3/20
Statement of Opinion:
- I'm hopeful that this policy might help stabilize supply chain issues.
- Having a council dedicated to economic security could prevent some of the problems we've seen recently.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 6 |
| Year 2 | 7 | 6 |
| Year 3 | 8 | 5 |
| Year 5 | 8 | 5 |
| Year 10 | 9 | 6 |
| Year 20 | 9 | 6 |
Tech Startup Owner (San Francisco, CA)
Age: 33 | Gender: female
Wellbeing Before Policy: 7
Duration of Impact: 5.0 years
Commonness: 4/20
Statement of Opinion:
- Anything that could stabilize trade regulations would be a big help.
- I'm optimistic but cautious, as government changes can be slow.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 7 |
| Year 2 | 8 | 6 |
| Year 3 | 9 | 5 |
| Year 5 | 9 | 5 |
| Year 10 | 8 | 6 |
| Year 20 | 7 | 6 |
Software Engineer (Austin, TX)
Age: 28 | Gender: female
Wellbeing Before Policy: 7
Duration of Impact: 3.0 years
Commonness: 6/20
Statement of Opinion:
- The policy seems positive, but I doubt I'll notice a big impact personally.
- If it helps the economy in the long run, that'd be great.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 7 |
| Year 2 | 7 | 7 |
| Year 3 | 7 | 6 |
| Year 5 | 8 | 6 |
| Year 10 | 8 | 7 |
| Year 20 | 9 | 7 |
Corn Farmer (Des Moines, IA)
Age: 58 | Gender: male
Wellbeing Before Policy: 5
Duration of Impact: 5.0 years
Commonness: 3/20
Statement of Opinion:
- Trade impacts agricultural prices significantly; hoping for beneficial outcomes.
- Policies have sometimes acted against us, so skeptical but hopeful.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 5 |
| Year 2 | 6 | 5 |
| Year 3 | 7 | 5 |
| Year 5 | 7 | 6 |
| Year 10 | 8 | 6 |
| Year 20 | 7 | 6 |
Retail Inventory Manager (New York, NY)
Age: 40 | Gender: female
Wellbeing Before Policy: 7
Duration of Impact: 10.0 years
Commonness: 5/20
Statement of Opinion:
- Improved supply chain policies would make my job significantly easier.
- Skepticism exists, but I support improvements in the long-term strategy.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 7 |
| Year 2 | 8 | 7 |
| Year 3 | 8 | 6 |
| Year 5 | 9 | 7 |
| Year 10 | 9 | 8 |
| Year 20 | 8 | 7 |
Supply Chain Analyst (Phoenix, AZ)
Age: 50 | Gender: male
Wellbeing Before Policy: 6
Duration of Impact: 10.0 years
Commonness: 4/20
Statement of Opinion:
- It's good to see a focus on supply chains from a federal level.
- Anticipating better frameworks that will aid efficiency and reduce costs.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 6 |
| Year 2 | 7 | 6 |
| Year 3 | 8 | 5 |
| Year 5 | 9 | 6 |
| Year 10 | 9 | 7 |
| Year 20 | 8 | 6 |
Graduate Student in Economics (Seattle, WA)
Age: 24 | Gender: other
Wellbeing Before Policy: 6
Duration of Impact: 5.0 years
Commonness: 7/20
Statement of Opinion:
- I'm curious to see how these policies play out and impact the economy.
- It'll be interesting to see if real changes occur from this council's advisories.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 6 |
| Year 2 | 6 | 5 |
| Year 3 | 7 | 5 |
| Year 5 | 7 | 6 |
| Year 10 | 8 | 6 |
| Year 20 | 8 | 7 |
Logistics Coordinator (Atlanta, GA)
Age: 39 | Gender: female
Wellbeing Before Policy: 7
Duration of Impact: 7.0 years
Commonness: 8/20
Statement of Opinion:
- Hopeful that this council will identify and resolve common supply chain issues.
- It could make our operations smoother and reduce costs in logistical delays.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 7 |
| Year 2 | 8 | 6 |
| Year 3 | 8 | 6 |
| Year 5 | 8 | 6 |
| Year 10 | 9 | 7 |
| Year 20 | 9 | 7 |
Retired Economist (Chicago, IL)
Age: 62 | Gender: male
Wellbeing Before Policy: 8
Duration of Impact: 10.0 years
Commonness: 5/20
Statement of Opinion:
- This policy may be crucial for economic stability if effectively implemented.
- A comprehensive approach is needed for true economic security.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 8 |
| Year 2 | 8 | 7 |
| Year 3 | 9 | 7 |
| Year 5 | 9 | 7 |
| Year 10 | 9 | 8 |
| Year 20 | 9 | 8 |
International Trade Consultant (Raleigh, NC)
Age: 29 | Gender: male
Wellbeing Before Policy: 7
Duration of Impact: 5.0 years
Commonness: 4/20
Statement of Opinion:
- If the council can provide clearer guidance, it will be beneficial for businesses.
- Improving economic security is essential for business growth.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 7 |
| Year 2 | 8 | 6 |
| Year 3 | 9 | 5 |
| Year 5 | 9 | 6 |
| Year 10 | 9 | 7 |
| Year 20 | 8 | 7 |
Cost Estimates
Year 1: $15000000 (Low: $10000000, High: $20000000)
Year 2: $12000000 (Low: $10000000, High: $15000000)
Year 3: $12000000 (Low: $10000000, High: $15000000)
Year 5: $12000000 (Low: $10000000, High: $15000000)
Year 10: $10000000 (Low: $8000000, High: $12000000)
Year 100: $0 (Low: $0, High: $0)
Key Considerations
- The establishment of an advisory council will provide strategic guidance, which could mitigate future economic disruptions.
- Costs will be partially offset by improved efficiencies and potential cost savings.
- The policy's success depends on effective implementation and coordination across sectors.
- Existing programs within DHS may experience shifts in focus, necessitating reallocation of resources.