Joe Biden’s economic policy team, led by incoming Treasury Secretary Janet Yellen, has signaled it will be the first administration in history “to construct economic policy around issues like race, gender equality and climate change, rather than around traditional indicators like gross domestic product or deficit ratios,” reports Axios.
The center-left site says Biden “is charting an economic policy that’s visibly to the left of Bill Clinton and Barack Obama.”
“If he succeeds, it’s going to show up not only in taxes and spending, but also in regulation.”
Meanwhile, the Los Angeles Times has characterized Biden’s upcoming policies as an effort to “make America California again,” the state where corporations and citizens are fleeing high taxes and regulation accompanied by decay and dysfunction.
On his first day in office, Biden will issue a dozen executive directives to kick off a 10-day blitz that will include a flurry of legislative proposals aimed at reversing President Trump’s legacy, the New York Times reported.
The paper said Biden’s team “has developed a raft of decrees that he can issue on his own authority after the inauguration on Wednesday to begin reversing some of President Trump’s most hotly disputed policies.”
At the center of Biden’s proposed $1.9 trillion economic stimulus plan is a $15 minimum wage that employers, employees and economists warn will kill millions of jobs.
The self-described democratic socialist Sen. Bernie Sanders, who likely will become the next Senate Budget Committee chairman, says Biden’s massive package is only the beginning, calling it “a very strong first installment.”
The Democrats’ leader on climate change, Sheldon Whitehouse of Rhode Island, told Axios he will obstruct Biden’s nominees if the president-elect is not aggressive enough on the issue.
“I think there are quite a considerable number of senators who keenly believe that we missed huge opportunities in the Obama administration, that the Trump administration was a wasteland in which we went backwards and that the urgency of this moment is incredibly compelling and we just won’t tolerate a casual, insipid approach to dealing with this vital issue,” he said.
Sen. Jeff Merkley, D-Ore., told Axios in a statement that “part of what propelled President-elect Biden to his resounding victory was his commitment to addressing the climate crisis head on, and I will be strongly encouraging the incoming administration to deliver on that promise in every way possible.”
Whitehouse said he wants the Biden administration to have the Justice Department investigate organizations funded by fossil-fuel companies that propagate “climate denialism and climate obstruction and political ownership of the Republican Party.”
Among them are the conservative Heartland Institute.
The think tank’s president, James Taylor, dismissed the threat, insisting the group “welcomes free and fair discussion of climate change.”
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