United States Politics and Government

More stories

  • 113 Shares129 Views

    in Economy

    Can the G.O.P. Really Become the Party of Workers?

    by

    The most surprising moment of this year’s Republican National Convention may have come on its first night, when the president of the Teamsters railed in prime time against corporate elites and denounced a “war against labor” by business groups. The gasps from some in the hall were almost audible on television.But in many ways, it was a little-noted speech the week before, by Senator Josh Hawley of Missouri, that was more revealing about the party’s evolving relationship with organized labor.If anything, Mr. Hawley, a rising Republican star who is one of the Senate’s most conservative members, seemed to outflank the Teamsters’ leader. His speech, delivered at the National Conservatism Conference, criticized Republicans who “cheerleaded for corporate tax cuts and low barriers for corporate trade, then watched these same corporations ship American jobs overseas.” Mr. Hawley concluded that, “in the choice between labor and capital,” his party must “start prioritizing the workingman.”Since at least the Nixon era, Republicans have nodded rhetorically at the working class, asserting that their party stands for the cultural values these voters hold dear. And for just as long, Democrats have called that pitch hollow, insisting that Republicans have sought to dupe blue-collar voters into supporting policies that benefit the wealthy. Speaker after speaker at the Democratic National Convention this week went on in this vein.Senator Josh Hawley of Missouri has become a leading voice among Republicans pushing for a new relationship with labor. Eric Lee/The New York TimesWhat’s far less common is for a Republican to agree with that critique. “The recent Republican Party, the 1990s party, privileged the money crowd in just about every possible way,” Mr. Hawley said in his speech.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

  • 113 Shares189 Views

    in Economy

    Care Policies Take Center Stage in Harris’s Economic Message

    by

    The Democratic nominee says she wants to make raising a family more affordable. But she has provided few details on her proposals.The “care economy” — a broad set of policies aimed at helping parents and other caregivers — was the great unfinished work of President Biden’s domestic agenda. Vice President Kamala Harris has made it a central aspect of her campaign to succeed him.Ms. Harris, the Democratic nominee, has spoken frequently on the campaign trail about making it more affordable to raise children. She chose a running mate, Gov. Tim Walz of Minnesota, whose signature policy accomplishments include the creation of a paid family leave program.In the first major economic speech of her campaign, she proposed restoring an expanded child tax credit and called for a new $6,000 benefit for parents of newborns. She also laid out policies that aim to reduce housing costs, such as providing up to $25,000 in down-payment assistance to first-time home buyers.In her speech accepting the Democratic nomination on Thursday, Ms. Harris said she would not let conservatives end programs like Head Start that “provide preschool and child care for our children.”But Ms. Harris has not yet offered specific proposals on child care, paid family leave or early childhood education. That has surprised some progressive policy experts, and brought flashbacks of the Biden administration’s inability to enact more sweeping policies.Mr. Biden also initially made the care economy a central piece of his domestic policy agenda, putting it alongside proposed investments in roads and bridges, domestic manufacturing and green energy. His aides often argued that care was a form of infrastructure — that affordable child care, like highways, was essential to a well-functioning economy.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

  • 113 Shares149 Views

    in Economy

    Harris’s Price-Gouging Ban: Price Controls or No Quick Effect?

    by

    The plan does not appear to amount to government price controls. It also might not bring down grocery bills anytime soon.Vice President Kamala Harris threw her support behind a federal ban on price-gouging in the food and grocery industries last week. It was the first official economic policy proposal of her presidential campaign, and it was pitched as a direct response to the high price of putting food on the table in America today.“To combat high grocery costs, VP Harris to call for first-ever federal ban on corporate price-gouging,” the Harris campaign proclaimed in the subject line of a news release last week, ahead of a speech laying out the first planks of her economic agenda.It is still impossible to say, from publicly available details, what exactly the ban would do. Republicans have denounced the proposal as “communist,” warning that it would lead to the federal government setting prices in the marketplace. Former President Donald J. Trump has mocked the plan on social media as “SOVIET Style Price Controls.”Progressives have cheered the announcement as a crucial check on corporate greed, saying it could immediately benefit shoppers who have been stunned by a 20 percent rise in food costs since President Biden took office.But people familiar with Ms. Harris’s thinking on the ban now say it might not resemble either of those characterizations. The ban, they also suggest, might actually not do anything to bring down grocery prices right now. Those who spoke about the strategy behind the emerging policy did so on the condition of anonymity.Ms. Harris’s campaign has created the space for multiple interpretations, by declining to specify how that ban would work, when it would apply or what behaviors it would prohibit.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

  • 125 Shares99 Views

    in Economy

    Harris and Trump Offer a Clear Contrast on the Economy

    by

    Both candidates embrace expansions of government power to steer economic outcomes — but in vastly different areas.Vice President Kamala Harris and former President Donald J. Trump flew to North Carolina this week to deliver what were billed as major speeches on the economy. Neither laid out a comprehensive policy plan — not Ms. Harris in her half-hour focus on housing, groceries and prescription drugs, nor Mr. Trump in 80 minutes of sprinkling various proposals among musings about dangerous immigrants.But in their own ways, both candidates sent voters clear and important messages about their economic visions. Each embraced a vision of a powerful federal government, using its muscle to intervene in markets in pursuit of a stronger and more prosperous economy.They just disagreed, almost entirely, on when and how that power should be used.In Raleigh on Friday, Ms. Harris began to put her own stamp on the brand of progressive economics that has come to dominate Democratic politics over the last decade. That economic thinking embraces the idea that the federal government must act aggressively to foster competition and correct distortions in private markets.The approach seeks large tax increases on corporations and high earners, to fund assistance for low-income and middle-class workers who are struggling to build wealth for themselves and their children. At the same time, it provides big tax breaks to companies engaged in what Ms. Harris and other progressives see as delivering great economic benefit — like manufacturing technologies needed to fight global warming, or building affordable housing.That philosophy animated the policy agenda that Ms. Harris unveiled on Friday. She pledged to send up to $25,000 in down-payment assistance to every first-time home buyer over four years, while directing $40 billion to construction companies that build starter homes. She said she would permanently reinstate an expanded child tax credit that President Biden temporarily established with his 2021 stimulus law, while offering even more assistance to parents of newborns.She called for a federal ban on corporate price gouging on groceries and for new federal enforcement tools to punish companies that unfairly push up food prices. “My plan will include new penalties for opportunistic companies that exploit crises and break the rules,” she said, adding: “We will help the food industry become more competitive, because I believe competition is the lifeblood of our economy.”We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

  • 125 Shares179 Views

    in Economy

    Harris Will Back Federal Ban on Price Gouging, Campaign Says

    by

    Vice President Kamala Harris will call for a federal ban on corporate price gouging on groceries in a speech laying out her economic agenda on Friday, campaign officials said late Wednesday, in an effort to blame big companies for persistently high costs of American consumer staples.The plan includes large overlaps with efforts that the Biden administration has pursued for several years to target corporate consolidation and price gouging, including attempts to stoke more competition in the meat industry and the Federal Trade Commission’s lawsuit this year that seeks to block the merger of two large grocery retailers, Kroger and Albertsons.It also follows through on what people familiar with Ms. Harris’s forthcoming economic agenda said this week would be a centerpiece of her plans: an aggressive rhetorical attempt to shift the blame for high inflation onto corporate America. Polls show that argument resonates strongly with voters, including independent voters who could decide the November election.Progressive groups have urged President Biden, and now Ms. Harris, to fully embrace that argument.In a release announcing the policy, Harris campaign officials did not detail how a price-gouging ban would be enforced or what current corporate behaviors would be outlawed if it were enacted. They said Ms. Harris would work in her first 100 days to put in place a federal ban “setting clear rules of the road to make clear that big corporations can’t unfairly exploit consumers to run up excessive corporate profits on food and groceries.”The officials also said Ms. Harris would authorize the Federal Trade Commission to impose “harsh penalties” on corporations that fix prices. They said that she would direct more resources toward investigating price-gouging in the supply chain for meat and that she would push federal officials to closely scrutinize proposed grocery mergers.They also said that Ms. Harris would unveil plans on Friday related to housing costs and prescription drug prices. Many states ban price gouging, but the federal government does not.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

  • 150 Shares189 Views

    in Economy

    Kamala Harris Set to Lay Out Economic Agenda in North Carolina Speech

    by

    Vice President Kamala Harris’s sudden ascent to the top of the Democratic ticket has generated a host of questions about her economic agenda, including how much she will stick to the details of President Biden’s positions, tweak them, or chart entirely new ones.When she begins to roll out her policy vision this week, Ms. Harris is likely to answer only some of those questions.During an economy-focused speech on Friday in Raleigh, N.C., Ms. Harris will outline a sort of reboot of the administration’s economic agenda, according to four people familiar with Ms. Harris’s plans.She will lay out an approach relatively light on details, they said. It will shift emphasis from Mr. Biden’s focus on job creation and made-in-America manufacturing, and toward efforts to rein in the cost of living. But it will rarely break from Mr. Biden on substance.That strategy reflects the advice economic aides have given Ms. Harris: to be clear and bold in talking about the economy, but not overly specific.Her ability to do that has been effectively enabled by the unusual circumstances of Mr. Biden’s abrupt departure from the presidential race, which allowed Ms. Harris to secure the Democratic nomination without enduring a long primary campaign.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

  • 150 Shares169 Views

    in Economy

    U.S. Officials to Visit China for Economic Talks as Trade Tensions Rise

    by

    The recently established U.S.-China Financial Working Group is set to meet for discussions about financial stability and curbing the flow of fentanyl.A group of senior Biden administration officials is traveling to Shanghai this week for a round of high-level meetings intended to keep the economic relationship between the United States and China on stable footing amid mounting trade tensions between the two countries.The talks will take place on Thursday and Friday and are being convened through the U.S.-China Financial Working Group, which was created last year. Officials are expected to discuss ways to maintain economic and financial stability, capital markets and efforts to curb the flow of fentanyl into the United States.Although communication between the United States and China has improved over the past year, the economic relationship remains fraught because of disagreements over industrial policy and China’s dominance over green energy technology. The Biden administration imposed new tariffs in May on an array of Chinese imports, including electric vehicles, solar cells, semiconductors and advanced batteries. The United States is also restricting American investments in Chinese sectors that policymakers believe could threaten national security.The U.S. delegation, which is scheduled to depart on Monday, is being led by Brent Neiman, the Treasury Department’s assistant secretary for international finance. He will be joined by officials from the Federal Reserve and the Securities and Exchange Commission. They are expected to meet with the People’s Bank of China’s deputy governor, Xuan Changneng, and other senior Chinese officials.“We intend for this F.W.G. meeting to include conversations on financial stability, issues related to cross-border data, lending and payments, private-sector efforts to advance transition finance, and concrete steps we can take to improve communication in the event of financial stress,” Mr. Neiman said ahead of the trip, referring to the abbreviation for the financial working group.Treasury Secretary Janet L. Yellen pressed Chinese officials during her trip to China in April to stop flooding global markets with cheap clean-energy products.Pool photo by Tatan SyuflanaAmerican and Chinese financial regulators have been conducting financial shock exercises this year to coordinate their responses in the event of a crisis, like a cyberattack or climate disaster, that might affect the international banking or insurance systems.The Biden administration has been urging China to take action to prevent chemicals used to produce fentanyl from being exported to other countries and smuggled into the United States. There were signs of progress this month when China announced that it would put new restrictions on three of these chemicals, a move that the United States described as a “valuable step forward.”Other economic issues between the two countries continue to be contentious. Treasury Secretary Janet L. Yellen pressed Chinese officials during her trip to China in April to stop flooding global markets with cheap clean-energy products, warning that its excess industrial capacity would distort global supply chains.But after a meeting of Communist Party leaders last month, there was little indication that China would retreat from its investments in high-tech manufacturing or take major steps toward rebalancing its economy by bolstering domestic consumption.The talks this week are the fifth meeting of the financial working group and will be the second time the officials have convened in China. More

  • 150 Shares119 Views

    in Economy

    From Tips to TikTok, Trump Swaps Policies With Aim to Please Voters

    by

    The former president’s economic agenda has made some notable reversals from the policies he pushed while in the White House.At his convention speech last month, former President Donald J. Trump declared that his new economic agenda would be built around a plan to eliminate taxes on tips, claiming that the idea would uplift the middle class and provide relief to hospitality workers around the country.“Everybody loves it,” Mr. Trump said to cheers. “Waitresses and caddies and drivers.”While the cost and feasibility of the idea has been questioned by economists and tax analysts, labor experts have noted another irony: As president, Mr. Trump tried to take tips away from workers and give the money to their employers.The reversal is one of many that Mr. Trump has made in his bid to return to the presidency and underscores his malleability in election-year policymaking. From TikTok to cryptocurrencies, the former president has been reinventing his platform on the fly as he aims to attract different swaths of voters. At times, Mr. Trump appears to be staking out new positions to differentiate himself from Vice President Kamala Harris or, perhaps, just to please crowds.To close observers of the machinations of Mr. Trump’s first term, the shift on tips, a policy that has become a regular part of his stump speech, has been particularly striking.“Trump is posing as a champion of tipped restaurant workers with his no-tax-on-tips proposal, but his actual record has been to slash protections for tipped workers at a time when they were struggling with a high cost of living,” said Paul Sonn, the director of National Employment Law Project Action, which promotes workers’ rights.In 2017, Mr. Trump’s Labor Department proposed changing federal regulations to allow employers to collect tips that their workers receive and use them for essentially any purpose as long as the workers were paid at least the federal minimum wage of $7.25 an hour. In theory, the flexibility would make it possible for restaurant owners to ensure that cooks and dishwashers received part of a pool of tip money, but in practice employers could pocket the tips and spend them at their discretion.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More