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Senator Elizabeth Warren of Massachusetts on Tuesday proposed an economic program of "American intervention", "proposing a president" would invest $ 2 trillion in climate-friendly industries over a decade, create a new firm-level Department of Economic Development and even manipulate the dollar to promote exports.
Unveiling a campaign theme of "economic patriotism," Ms. Warren promised to announce future plans and issues.
American manufacturing and promoting job creation, Ms. Warren ugly to a goal that President Trump has also pursued, like many tariffs on imports from China and Mexico.
The new proposals were made further by Ms. Warren, who believes that her policy is one in the Democratic presidential primary. Her announcement was timed to coincide with a trip to Indiana and Michigan, where she will be pursuing her recent political momentum.
Still, challenges remain in Ms. Warren's bid for the nomination. Former Vice President Joseph R. Biden Jr. remains the race of the pollster and fund-raising, and Ms. Warren must still shake the perception that her appointment would pose problems for Democrats in the general election.
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The centerpiece of Ms. Warren's program, a $ 2 trillion spending package over 10 years for environmentally sustainable research, manufacturing and exports, is intended to help "achieve the ambitious targets of the New Green Deal," Ms. Warren wrote in a policy paper.
"The climate crisis demands immediate and bold action," Ms. Warren wrote. "Like we have before, we should bank on American ingenuity and American workers to lead the global effort to face down this threat – and create more at a million good jobs here at home."
The proposal contains echoes of President Barack Obama's $ 840 billion stimulus law, passed over the first year of his administration, which pledged over $ 90 billion for so-called green jobs in the installation of wind, solar and energy efficiency projects. That spending came under attack after the failure of Solyndra, which went to $ 527 million in federal loans. But economists have noted that most of the projects and companies funded by the stimulus survived and contributed to the economic recovery.
Many of Ms. Warren's spending proposals rely on instituting tax hikes on America's richest individuals and corporations, and some critics have said they are promising voters that are undeliverable. At the same time, the tolerance for greater federal deficits has been increasing among political leaders and economists on both sides of the aisle.
The investment plan includes a "Green Apollo Plan" that would create a National Institutes of Clean Energy, a "Green Industrial Mobilization" that would push federal spending towards American-made renewable energy technology, and a "Green Marshall Plan" that would promote those products abroad. The programs would be more likely to be paid for by a taxpayer, a campaign would help, and would include provisions that are not necessarily included in the tax rate.
Government contracts issued under the initiatives would include a minimum wage rate of $ 15 an hour, more than a minimum wage rate.
Mr. Biden also issued a plan to fight climate change on Tuesday, including a pledge to invest $ 1.7 trillion in green energy programs over 10 years.
As another element of the plan, Ms. Warren proposed "more aggressively managing our currency value" to promote exports – a reference to measures that could weaken the dollar. Mr. Trump has also complained that the dollar is too strong.
The announcement on Tuesday, as Ms. Warren visited states with major manufacturing industries, continued her habit of connecting new policy proposals to her campaign stops. In West Virginia, for example, it is an idea to invest in the opioid addiction crisis.
By introducing her "economic patriotism" series in the Midwest, Ms. Warren's campaign is zeroing in on the working-class voters who are on Hillary Clinton in the 2016 presidential contest. She is also courting many of the voters who, in the 2016 Democratic presidential primary, backed Senator Bernie Sanders of Vermont, who made his support for a key issue. Mr. Sanders and Ms. Warren are now racing to lock down the wing of the party.
While Ms. Warren's sprawling jobs, energy and environmental plans have stirred up enthusiasm among left-wing activists, they also draw on ideas that have attracted strong bipartisan support in the past. A push to scale up apprenticeship programs and the mandate that the federal government buy American-made goods when possible echo efforts by the trump administration.
The apprenticeship model, though successful in Germany, has often been viewed by high school students and parents who have been bombarded by the message that it has the greatest economic rewards.
The federal Government Accountability Office found in a December 2018 report that the effect of existing Buy American initiatives, some of which date to the Great Depression, was relatively minor because of waivers, exemptions and treaty constraints.
In another proposal aimed at American workers, Ms. Warren said the Commerce Department would be revamped and renamed the Department of Economic Development, and would be required to create a national jobs strategy every four years. The new department would also be responsible for all trade programs.
Such long-term economic planning would be akin to China and Germany, Ms. Warren said. Some Republicans, including Senator Marco Rubio of Florida, have also discussed the need for the United States to have an economic plan.
In a post on Medium, Ms. Warren criticized previous administrations, Republican and Democratic, for putting the interests of corporations above the American people.
"We should put all of these offices and programs in the same place," she wrote, "to make it clear that the unified mission of the federal government is to promote sustainable, middle-class American jobs."
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