Putting pressure on the Biden administration to adopt progressive economic policies

Progressive factions of the Democratic Party have intensified their campaign to adopt progressive economic policies, which is aimed at putting pressure on the Biden administration. His agenda includes promptly passing a bill for $ 15 per hour minimum wage, levying a wealth tax on the rich, and speeding up the process of forming a trade union. The campaign of this faction is also seen to have an impact on President Joe Biden.

Biden on Sunday openly supported the Amazon Company’s right to form workers’ unions in the state of Alabama. For this he released a video. In it, the company officials were warned that they would not be allowed to adopt unfair means in the voting on the question of union formation. This interference of the President has been deemed to be the effect of the pressure of the progressive faction.

Meanwhile, progressive members of the House of Representatives have opened a new front on the question of increasing the minimum wage. The 23 members of the House have demanded President Biden and Vice President Kamala Harris to pass the minimum wage bill in the Senate immediately. Republican members of the Senate last week did not pass a proposal to increase the minimum wage under President Biden’s Corona relief package. Now the progressive members say that a separate bill should be brought for this and the Vice President should give his decisive vote on it. There are 50-50 members of both the parties in the House, so the Vice President’s vote is needed to pass it.

Putting pressure on the Biden administration  to adopt progressive economic policies
Putting pressure on the Biden administration to adopt progressive economic policies

Meanwhile, Democratic Senator Elizabeth Warren from Massachusetts and Pramila Jaipal, a member of the same party in the House of Representatives, have proposed a new tax on the rich to raise additional resources. These members have named the bill related to this proposal as the Ultra Millionaire Tax Act. Under this, there is a proposal to impose annual tax of two per cent on the houses whose total assets are from five crore to one billion dollars. Homes with property above this were subjected to an additional three per cent tax.

The proposal has also been backed by Senator Bernie Sanders, who is the chairman of the budget committee in the Senate. In 2019, Sanders put forward several other proposals to increase universal medical coverage, child care funding, and more. He then spoke of imposing additional tax on billionaires for those schemes. Then Sanders said that in reality, he should not be a billionaire.

Warren said in a statement on Monday – while Congress (the US Parliament) is making additional plans to help the economy, the wealth tax should be at the top of its agenda to raise funds for new schemes. Warren said that the amount that will be earned from this tax will be spent on child care, education, infrastructure etc. He said that all these things are included in the priorities of President Biden and the Democratic Party.

According to economists, if this tax is imposed, it will put additional burden on one lakh rich American families. A trillion dollars will be earned from it in the government treasury in a decade. Professor Emmanuel Sage and Gabriel Zuckman of California-based Berkeley University have done a special study in this regard. He says that this tax must be levied to reduce the economic non-equity in the country.

Meanwhile, a recent survey report has revealed that President Biden’s Corona relief package has huge support among the American public. There was also talk of increasing the minimum wage in the President’s package. According to the Morning Consult Agency, the survey was conducted from 19 to 22 February. 76 percent of the people supported the package. Only 17 percent of the people opposed it. Opponents included mostly those who are Republican Party voters.

Biden’s package also included halting the recovery of student loans, increasing spending on child care, and extending the plan for free meals. Biden included these in his promises to garner the votes of Sanders’ pro-progressive voters. Now the progressive group is pressurizing them to implement. This makes the Democratic Party seem inclined towards leftist policies.

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