Democratic Party’s Progressive factions have intensified their campaign to adopt progressive economic policies. Biden’s agenda includes promptly passing a bill for a minimum wage of $15 per hour, levying a wealth tax on the rich, and speeding up the process of forming a trade union.President Joe Biden had an impact of this faction’s campaign.
Biden openly supported Amazon Company’s right to form workers’ unions in the state of Alabama. He released a video for this.
Meanwhile, progressive members of the House of Representatives have opened a new front to increase the minimum wage. 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. Progressive members are demanding a separate bill for that. Progressive members also want that the Vice President should cast her vote on it. Since both parties have 50-50 members in the house. The President’s Vote can be decisive to pass it.
Meanwhile, Democratic Senators Elizabeth Warren from Massachusetts and Pramila Jaipal, are proposing a new tax on the rich to raise additional resources. Elizabeth and Pramila have named the bill associated with this proposal as the Ultra Millionaire Tax. Under this bill there is a proposa by the senatorsl to impose annual tax of two per cent. On the houses whose total assets are from over five crore to one billion dollars. Homes with property above this would be subjected to an additional three per cent tax.
Senator Bernie Sanders has also backed this proposal. Bernie 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, there should not be any billionaires at all.