How Senate Democrats Promise to Fix the Economy, Inflation, Avoid Recession

  • Democrats maintain the Senate majority in a surprise midterms win.
  • In addition to abortion rights and fair elections, Democrats appealed to voters in their plans for the economy.
  • It involves taxing corporations, approving Biden’s spending, and lowering health care costs.

Democrats will retain control of the Senate for at least the next two years, in a surprisingly midterms won.

“Tuesday was a good day for America and a good day for democracy—and a strong night for Democrats,” President Joe Biden said on Twitter this weekend, adding that Democrats lost fewer House seats this year than during the first midterm elections of any Democratic president for four decades.

The House is still too close to call, and if Republicans hold hands, the blue Senate will have limited power. They will be able to confirm Biden’s judicial and executive branch nominations but not pass important new legislation along partisan lines. Still, Democrats have announced victory as voters. rejection of far right extremismand their desire to see abortion rights and fair election maintained.

They may be big takeaways, but the Democrats locked down the Senate – and likely only a conceding the majority are slim to Republicans in the House of Representatives – also indicates that voters favor the Democrats’ plan to rein in the tumultuous economy.

That’s after early polls showed the opposite. Ahead of Election Day, polls show that Americans are more concerned about it economy and inflation rather than other problems, and that they trusted the Republicans more to fix it. That’s what some economists looked as likely, however, and it looks like the Democrats’ plan for the economy in the coming year gave them at least the slight edge needed to pull off an upset win. Marginal victories in Nevada and Washington, for example, were held by candidates who aligned with Biden’s plan to lower costs for Americans.

But voters don’t seem to be just looking for a representative who touts the party line — some Democrats who pulled off upset victories emphasized a clear plan on the campaign trail to deal with inflation and the high cost of living. Below are the three main ones.

Support Biden’s spending, such as the IRA and Child Tax Credit reinstated

Republicans on the campaign trail blamed Biden’s spending on the country’s inflation problem, saying that the $1.9 trillion American Rescue Plan is one of the main instigators. Experts say that if it is, the impact it is not significant. However, the GOP equal unity against the Biden Inflation Reduction Act.

But public favor for the legislation was solid out of the gate, according to a Reuters/Ipsos poll from August show broad support for individual measures of the Inflation Reduction Act, although Americans are divided into packages as a whole.

And voters came out to support the politicians to vote for it. It may be because redistributions like tax credits can, in theory, provide immediate relief to families against higher prices.

Nevada Senator Catherine Cortez Masto, whose victory only secured the Democratic Senate majority by one seat, proponent vowel IRAs, for example. His Republican rival Adam Laxalt was staunchly opposed, and together Cortez Masto went there several times.

John Fetterman, the Democrat who won Mehmet Oz for a Pennsylvania Senate seat, and Mark Kelly, a Democrat who holds his own in Arizona, same supporting Biden’s IRA and the American Rescue Plan, and Kelly secure some IRA money for climate projects in his area.

Fetterman spokeswoman said that Fetterman would support Biden’s stimulus initiatives in the future, for example, such as the refundable child tax credit. Worth up to $3,600, it was originally part of the American Rescue Plan. credit that expires at the beginning of the year, but has been a short time cause a significant decline in child poverty.

Tackling corporate profits as a measure against inflation

Some Democrats who achieved close victories slammed corporations for enjoying profit record for the past several years without reducing the burden on consumers amid record inflation.

Cortez Masto be censured oil and gas companies for “prioritizing payouts to shareholders instead of using their profit records to help lower prices and responsibly ramp up domestic production” on his campaign website.

Fetterman and Kelly emphasized the same point in the weeks leading up to the election.

“In the Senate, I will fight for a fair tax code that ensures the wealthiest Americans and corporations don’t get away with scamming the system, and end up paying their fair share,” Fetterman promise on the campaign site itself. “We can and must build an economy that works for all of us.”

A tax on profits could, in theory, encourage companies to lower prices and invest more of their earnings back into companies with expenses such as wages.

Making healthcare more affordable by expanding Medicare and lowering drug costs

Democrats spent half of their midterms as a bastion for such entitlement programs Medicare and Social Securityand framing Republicans as threat.

That emphasis paid off: Fetterman, for example, wanted to expand Medicare, while Oz only had it said he only supports the expansion of Medicare Advantagewhich is a plan offered by a private company that contracts with Medicare.

“We have finally passed legislation to allow Medicare to negotiate the price of certain drugs and cap the annual cost of prescription drugs, but we cannot stop there – we must allow the importation of prescription drugs at lower prices from other countries and limit drug costs for all Americans.” Fetterman reveal on his website.

While Medicare’s ability to negotiate drug prices may be the most direct way to lower costs for Americans, it’s a fairly small program and isn’t fully funded for four years.

Laxalt has not specifically said he wants to reduce or cut Medicare, however said that he intended to “look for ways to reduce costs,” compared to Cortez Masto, who had pleaded not guilty some kind of Medicare expansion.

In addition to Medicare, Democrats like Fetterman also have it NAMED to allow low-cost drugs to be imported into the US, in addition to limiting the cost of drugs in general.

“I will push to lower the cost of prescription drugs by continuing to take on pharmaceutical companies that raise prices,” he said. told a local Fox News affiliate.

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