Sen. Elizabeth Warren (D-MA) is gearing up to push a bold progressive economic agenda as Democrats prepare to take full control of Congress, with plans to expand social spending, repeal Trump-era tax cuts, and overhaul Senate rules to bypass Republican opposition.
Warren’s Spending Push
In a recent Time op-ed, Warren called for preserving pandemic-level funding for programs like SNAP, which saw spending jump from $76 billion in 2019 to $98.2 billion in 2020. She also proposed new federal programs including universal childcare and expanded healthcare coverage.
Taxing the Wealthy
To fund these initiatives, Warren wants to roll back tax cuts passed under the Trump administration, which she claims primarily benefited corporations and the ultra-wealthy. This includes reversing provisions like the tax exemption on tipped wages that helped service workers.
Banking Committee Clout
As the incoming chair of the powerful Senate Banking Committee, Warren is positioned to advance her long-standing proposals like a wealth tax on fortunes over $50 million and caps on credit card interest rates – policies that financial executives warn could restrict credit access.
Filibuster Fight
Warren argues Democrats must eliminate the legislative filibuster to pass their economic agenda, stating: ‘Working people are counting on us to deliver.’ Her approach marks a sharp contrast with Treasury officials who argue spending cuts would better combat inflation.
Source: www.dailywire.com โ https://www.dailywire.com/news/heres-what-elizabeth-warren-wants-to-do-to-the-economy-once-democrats-take-power