the long and short of this agenda (courtesy of a ResetERA post:
GROCERIES AND FOOD
First-ever federal ban on corporate price gouging on food and groceries
Set clear rules so that corporations can’t unfairly exploit consumers with pricing to run up excessive corporate profits
Empower the FTC and state attorney generals to investigate corporations for violating the rules
Aggressively regulate mergers and proposed consolidation among food producers and grocers
HEALTHCARE
Expand the $35 insulin cap for Medicare to all Americans, not just the elderly ones
Cap all Americans annual out of pocket prescription drug spending at $2,000/year
Ramp up Medicare negotiations with drug companies over their most expensive drugs
Regulate pharmaceutical companies that block competitive and abusive practices by middlemen
Cancel medical debt for millions of Americans
TAX CUTS
Extend Inflation Reduction Act subsidies and lower premiums for ACA
Expand Earned Income Tax Credit by up to $1,500
Restore the $3,000 per child tax credit from the Inflation Reduction Act
Expand the Child Tax Credit so that even the poorest of families receive it (currently families need to make a high enough annual income to receive it)
Increase the Child Tax Credit to $6,000 per child for first year newborns
HOUSING
$25,000 down payment assistance for first time homebuyers who have paid rent on time for at least two years
Tax credit incentives for home builders who build starter homes sold to first time homebuyers
Build 3 million homes
$40B to local state governments for building housing
Pass the Stop Predatory Investing Act, legislation that would prohibit investors who acquire 50 or more new single-family rental homes from deducting interest or depreciation on the properties.
Pass the Preventing the Algorithmic Facilitation of Rental Housing Cartels Act, legislation that cracks down on companies that allow landlords to collude to set high housing prices via software and price-setting algorithms.
Tax credits are nice, but are least likely to help people in poverty. A lot of them can’t wait to claim the credit and if it’s not refundable it may not help them at all.
Should also be noted that the covid tax credit drove childhood poverty to 8%.
In 2021, bolstered by federal pandemic relief, economic security programs drove the poverty rate down to a record low of 8.0 percent. The expiration of that aid drove poverty back up in 2022, to 12.4 percent. The number of people living in poverty fell by 14.5 million between 2019 and 2021 and rose back up by 14.5 million in 2022. - Source
It should be noted that the covid era tax credit was also redeemable by those below the income threshold.
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Tax credits are nice, but are least likely to help people in poverty. A lot of them can’t wait to claim the credit and if it’s not refundable it may not help them at all.
My reading comprehension apparently isn’t what it used to be. Thank you for highlighting that.
Should also be noted that the covid tax credit drove childhood poverty to 8%.
It should be noted that the covid era tax credit was also redeemable by those below the income threshold.