Economy

Democratic economic policies focus on what's good for the average person. Democrats say If we paid employees well they would be spending more money buying more goods and services. Bringing benefits to service, manufacturing, and other businesses all of which pay taxes.

Democratic Economic Principles

Protecting Workers and Families and Creating Millions of Jobs Across America
Americans deserve an economy that works for everyone—not just for the wealthy and the well-connected. But our system has been rigged against the American people. Democrats believe that it is a moral and an economic imperative that we support working families by rebuilding the American middle class for the 21st century, making sure this time that everyone can make it and thrive, regardless of race, gender, sexual orientation, gender identity, disability status, national origin, age, or ZIP code.

Protecting Workers and Families and Creating Millions of Jobs Across America

Raising Wages and Promoting Workers’ Rights
Democrats will fight to raise wages for working people and improve job quality and security, including by raising the federal minimum wage so it reaches $15 an hour by 2026. Raising the federal minimum wage, so fewer workers are forced to hold down multiple jobs to make ends meet.

The right of workers to come together and form a union is under attack. We must unrig the rules that block workers from having the union they want and update our labor laws to make it more possible. We cannot hope to raise wages without taking on the profound racial biases at work in our employment system. The wage gap between Black workers and white workers is higher today than it was 20 years ago. It takes a typical Black woman 19 months to earn what a typical white man earns in 12 months—and for typical Latinas and Native American women, it takes almost two years. Democrats believe we need to be much more proactive and aggressive in rooting out discrimination in our employment system

Enacting Robust Work-Family Policies
The United States is alone among advanced economies in guaranteeing neither paid sick leave nor paid family leave for all workers. This puts excessive burdens on working families, especially working mothers.

Democrats will implement paid sick days and a high-quality, comprehensive, and inclusive paid family and medical leave system that protects workers from the unfair choice between attending to urgent health or caretaking needs and earning a paycheck.

Finding and paying for high-quality child care is an emotional, logistical, and financial tightrope for too many parents, and that needs to change. Working parents shouldn’t have to choose between keeping their kids safe and earning a paycheck. Democrats will make major investments in quality, affordable child care, including by significantly increasing the Child and Dependent Care Tax Credit and providing access to affordable, high-quality child care on a sliding scale by boosting funding for grants to states to help low-income and middle-class families afford child care.

Investing in the Engines of Job Creation
Democrats believe that the world’s richest nation should have the world’s best infrastructure system. That’s why we will invest in resilient, sustainable, and inclusive infrastructure. Democrats will launch a clean energy revolution through historic investments in clean energy, clean transportation, energy efficiency, and advanced manufacturing.

Building A Fair System of International Trade for Our Workers
democrats will upgrade our nation’s ports, lock, and dam systems, and freight infrastructure to accommodate 21st century cargo, reduce air and water pollution, and create and maintain high-quality, good-paying jobs. We will increase demand for American-made ships by ensuring U.S. cargo is carried on ships flying our flag. We will make sure that every community in America has access to clean, reliable drinking water and safe wastewater systems in their homes, including by replacing dangerous lead pipes.

Democrats support the creation of an infrastructure bank, a public bank that will leverage public and private resources to build infrastructure projects of national or regional significance, including in rail and transit, clean energy and water infrastructure, broadband, and affordable housing.

All federally supported infrastructure projects, whether existing or newly developed, financed through grants, loans, tax incentives, or a national infrastructure bank, should create good, union jobs that expand the middle class. That is why Democrats will ensure labor protections

Putting Homeownership in Reach and Guaranteeing Safe Housing for Every American
Democrats believe the government should take aggressive steps to increase the supply of housing, especially affordable housing, and address long-standing economic and racial inequities in our housing markets. We support innovative approaches to eliminating the racial wealth gap in America. Rehabilitating housing and expanding housing owned by land trusts will increase the amount of housing available for secure homeownership.

Democrats will supercharge investment in the Housing Trust Fund to greatly expand the number of affordable, accessible housing units on the market. We will expand the Low-Income Housing Tax Credit to incentivize private-sector construction of affordable housing, and make sure urban, suburban, and rural areas all benefit.

Democrats are committed to ending homelessness in America. Democrats commit to providing Section 8 housing support for every eligible family, and will enact protections to keep landlords from discriminating against voucher recipients. We will increase investments in public housing to expand availability for the first time since the 1990s, and improve and upgrade existing public housing to ensure safe living conditions for residents, protecting tenants’ rights to return if extensive renovations are needed.

Leveling the Economic Playing Field
The U.S. economy is rigged against the American people. Time after time, President Trump and the Republicans have rewarded big corporations and their wealthy donors, and left working families behind. Democrats will take decisive action to level the playing field for people of color, working families, women, small business owners, and others who have been left on the sidelines.

Reforming the Tax Code to Benefit Working Families
Our tax system has been rigged against the American people by big corporations and their lobbyists, and by Republican politicians who dole out tax cuts to their biggest donors while leaving working families to struggle.

Democrats will take action to reverse the Trump Administration’s tax cuts benefiting the wealthiest Americans and rewarding corporations for shipping American jobs overseas. We will crack down on overseas tax havens and close loopholes that are exploited by the wealthiest Americans and biggest corporations. We will make sure the wealthy pay their fair share in taxes. We will make sure investors pay the same tax rates as workers and bring an end to expensive and unproductive tax loopholes, including the carried interest loophole. Corporate tax rates, which were cut sharply by the 2017 Republican tax cut, must be raised, and “trickle-down” tax cuts must be rejected. Estate taxes should also be raised back to the historical norm.

Curbing Wall Street Abuses
The scars of the financial crisis that triggered the Great Recession are still present in our economy and our society. Financial institutions should never be “too big to fail.” Democrats will work to reverse the over-financialization of the American economy and curb Wall Street speculation by maintaining and expanding safeguards that separate retail banking institutions from more risky investment operations, and ensuring Wall Street investors pay their fair share in taxes.

Ending Poverty
Democrats remain committed to ending poverty and enabling all Americans to live up to their God-given potential. We recognize that the official poverty rate, as measured and communicated by the federal government, fails to capture critical needs like housing, education, health care, transportation, energy, and other necessities, and therefore understates the true share of Americans living in poverty.

We will raise the minimum wage to $15 an hour and guarantee equal pay for women, two measures that in combination will pull millions of families out of poverty.

Protecting Consumer Rights and Privacy
Consumers, workers, students, retirees, and investors who have been mistreated by businesses should never be denied their right to fight for fair treatment under the law. Democrats will support efforts to eliminate the use of forced arbitration clauses in employment and service contracts, which unfairly strip consumers, workers, students, retirees, and investors of their right to their day in court.

Tackling Runaway Corporate Concentration
Democrats are concerned that the increase in corporate concentration across a wide range of industries, from hospitals and pharmaceutical companies to agribusiness and retail chains, could be stifling competition and innovation and creating monopoly conditions that harm consumers. We will direct federal regulators to review a subset of the mergers and acquisitions that have taken place since President Trump took office, prioritizing the pharmaceutical, health care, telecommunications, technology, and agricultural industries, to assess whether any have increased market concentration, raised consumer prices, demonstrably harmed workers, increased racial inequality, reduced competition, or constricted innovation, and assign appropriate remedies.

Guaranteeing a Secure and Dignified Retirement
Democrats are proud to be the party that advocates retirement security for all. We are the party that created and strengthened Social Security, and defended public and private retirement plans that provide a decent monthly income. And we are fighting to make sure that all workers can save at work for emergencies and retirement.