Democratic Platform, Part 4: Economy

News Type: Event — Fri Sep 19, 2008 4:54 PM EDT

politics, obama, economy, democrats, election-2008, biden, dnc, economic-policy, democratic-platform

This is a continuation of the series of articles laying out details in the Republican and Democratic platforms. This article covers the section on the Economy. in the Democratic platform.

Previous article: Part 3: Government Reform in the Democratic platform.
Next article: Part 5: Energy and Environment in the Democratic platform.

Also see corresponding article covering the Republican platform.

Economic relief

Immediate energy rebate
Devote $50 billion to jumpstart economy, including assistance to states to keep vital services going
Quickly implement housing bill passed by Congress
Invest in infrastructure like bridges and roads and replenish highway trust fund
Fund fast-track projects to repair schools

Retirement/social security

Adopt measures to preserve and protect existing private and public pension plans
Automatically enroll every worker in pension plan that is portable from one job to another
Match savings for families who need help meeting retirement goals
Make sure CEO's can't dump pension plans while maintaining their own large compensation
Ensure all employees with pension plans receive annual documentation of how the funds are invested
Reform corporate bankruptcy laws so that retirement funds are priority in funding
Eliminate all federal income taxes on senior citizens making $50,000 or less a year
Strengthen Social Security program and ensure it has funds to pay benefits for this and future generations

Workers' rights

Support workers' right to organize into unions
Fight to pass Employee Free Choice Act
Restore pro-workers voices to National Labor Relations Board and the National Mediation Board
Overturn NLRB and NMB decisions that have undermined workers' collective bargaining rights
Ensure federal employees have right to collective bargaining and fix Federal Aviation Administratoin collective bargaining process
Ban permanent replacement of strike workers
Oppose "right-to-work" and "paycheck-protection" laws when they are proposed
Oppose suspension of labor protections during national emergencies, such as when Bush suspended Davis-Bacon after hurricane Katrina
Stop abuse of privitization of government jobs
End exploitation of workers by classifying them as "independent contractors"
Restore and expand overtime rights for millions of workers
OSHA will adopt comprehensive standard for workplace safety
Raise the minimum wage and index it to inflation
Increase the Earned Income Tax Credit
Close gaps in unemployment insurance program
Expand the Family and Medical Leave Act to cover millions more workers
Enable leave for: caring for elderly parents, addressing domestic violence and sexual assault, or attending a parent-teacher conference
Work with states to make leave paid
Ensure every worker earns up to seven paid sick days
Expand childcare tax credit
Double funding for afterschool and summer learning opportunities for children
Provide assistance to workers needing long-term care or are caring for aging relatives

Poverty

Ensure women work for fair pay
Assist American Indian communities
Increase affordable housing supply
Establish "promise neighborhoods" with comprehensive services in areas of concentrated poverty

Women at work

Pass the "Lilly Ledbetter" Act to make it easier to combat pay discrimination
Pass the Fair Pay Act; and modernize the Equal Pay Act
Invest in women-owned small businesses
Remove the capital gains tax on startup small businesses

Investment in science and technology

Implement America Competes Act
Make science, technology, engineering, and math education a national priority
Double federal funding for basic research, invest in a strong and inspirational vision for space exploration, and make the Research and Development Tax Credit permanent
Invest in the next generation of transformative energy technologies and health IT and renew the defense R&D system
Lift the current Administration's ban on using federal funding for embryonic stem cells, cells that would have otherwise have been discarded and lost forever, for research that could save lives
Ensure that patent laws protect legitimate rights while not stifling innovation and creativity
End the Bush Administration's war on science, restore scientific integrity, and return to evidence-based decision-making

Investment in manufacturing

End tax breaks that ship jobs overseas
Create Advanced Manufacturing Fund to provide for next generation of innovators and job creators
Expand Manufacturing Extension Partnerships and create job training programs for clean technologies
Provide assistance to automakers and parts companies for retooling of facilities to produce advanced technology vehicles
Modernize and expand Trade Adjustment Assistance

Investment in infrastructure

Start a National Infrastructure Reinvestment Bank tto leverage private investment in infrastructure improvements, and create nearly two million new good jobs
Modernize our power grid, spurring conservation and development of clean energy
Invest in bridges, roads, and public transportation
Ensure every American has access to high-speed broadband internet
Take on special interests to unleash power of wireless spectrum

Small business and entrepreneurship

Exempt all start-up companies from capital gains taxes and provide tax credit for health insurance
Help small businesses facing high energy costs
Remove bureaucratic barriers for small and start-up businesses, e.g., making patent process more efficient and reliable
Nurture entrepreneurship among women, people of color, tribes, and rural America

Rural America

Provide strong safety net for family farms, a permanent disaster relief program, expansion of agriculture
research, and an emphasis on agricultural trade
Promote economic development in rural and tribal communities by investing in renewable energy
Institute loan forgiveness programs and other incentives to attract quality teachers, doctors and nurses to rural communities
Develop and advance policies that promote sustainable and local agriculture, including funding for soil and water conservation programs

Taxes

Shut down the corporate loopholes and tax havens
No tax increases for people making under $250,000
Immediate, additional tax cuts for middle class
Families making more than $250,000 will see tax increase over Bush administration tax levels
End penalty within Social Security for public service, as exists in several states
Expand Earned Income Tax Credit
Simplify tax filings so that millions of Americans can do taxes in under five minutes

Housing

Ensure foreclosure prevention program enacted by Congress is implemented quickly and effectively
Reform bankruptcy laws to restore balance between lender and homeowner rights
Crack down on fraudulent brokers and lenders and invest in financial literacy
Pass a Homebuyers Bill of Rights, establishing new lending standards to ensure loans are affordable and fair, make sure standards are met, and ensure homeowners have accurate and complete information
Support affordable rental housing
Implement the newly created Affordable Housing Trust Fund
Fully fund the Community Development Block Grant program
End housing discrimination and to ensure equal housing opportunity
Combat homelessness and target homelessness among veterans by expanding proven programs and launching innovative preventive services

Consumer protection

Establish a Credit Card Bill of Rights to protect consumers and a Credit Card Rating System to improve disclosure
Reform our bankruptcy laws to give Americans in debt a second chance
People with bankruptcy due to medical liabilities will be able to relieve that debt
Ban executive bonuses for bankrupt companies
Crack down on predatory lenders and make it easier for low-income families to buy homes
Require all non-home-based child care facilities to be lead-safe within five years
Guarantee that consumer products coming in from other countries are truly safe, and will call on the Federal Trade Commission to ensure vulnerable consumer populations, such as seniors, are addressed

Savings

Create automatic workpace pensions, portable from job to job, even if you become self-employed
Match half of initial $1000 savings for families that need help
Adopt measures to preserve and protect public and private pension plans
Require annual funding disclosures to employees who participate in company pension plans

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tgstk2

I think this economic plan illustrates the distinct difference between the Democratic philosophy and the Republican one: the role of government in fostering a healthy environment for middle class workers to create a sustainable and robust economy.

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#1 - Fri Sep 19, 2008 5:00 PM EDT

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