According to a recent RAND study, building apartments in California costs more than twice what it costs in Texas. Several factors contribute to this gap, says Jason Ward, who led the study. But the biggest driver of California building costs is time. Project approvals and construction timelines in California are significantly longer than in Texas. As California policymakers explore ways to address housing costs, tackling the length of construction projects will be key. In fact, says Ward, “the future of California may well hinge on it.”

U.S. biopharmaceutical companies offshore an estimated 30 percent of FDA-approved drug workflows to Chinese contract development and manufacturing organizations. According to RAND experts, such deep interdependence poses medical and national security risks for the United States. That's why they recommend “strategically de-risking” U.S. drug supply chains. This would involve partnering with other nations to diversify key biopharmaceutical supply chains, rebuilding domestic manufacturing capabilities, and thoughtfully structuring existing U.S.-China collaboration.