Democrats target drug companies, big mergers as part of new economic agenda

WASHINGTON — Democrats are taking aim at price-gouging drug companies and big mergers as part of a new economic agenda they will unveil Monday called “A Better Deal.”

Included among a host of proposals designed to help workers and consumers is a plan for a new “price gouging” enforcer, who could take action against prescription drug companies that meet a test for an “unconscionable price increase,” according to a preview.

Another proposal would revisit anti-trust laws to prevent big mergers that hurt consumers, workers and competition. It would also create a 21st Century “Trust Buster,” a consumer competition advocate focused on halting abusive corporate conduct.

“People are worried about a sense of a creeping monopoly, and that consumers have less and less power in the marketplace,” said Rep. David Cicilline, D-R.I., one of three House members who helped develop the proposals. “They worry it will lead to higher costs.”

House and Senate Democratic leaders, hoping to win back majorities in the 2018 mid-term elections, say the overall agenda will boost wages, lower costs and “unrig the economy so it works for all Americans, not special interests or just the wealthiest few.” Included in the agenda are Democratic staples, such as proposals to raise the minimum wage, create jobs by rebuilding infrastructure, and create a national paid family leave program. They aim to help 10 million Americans get full-time, good-paying jobs.

Democrats are expected to gain House seats in the next election, but they need a net gain of 24 to win a majority. Republicans are favored to gain seats in the Senate, where they now have a 52-48 majority.

Senate Democratic Leader Charles Schumer of New York said on ABC’s This Week that the top reason Democrats lost in the 2016 election is that they didn’t tell people what they stood for. Schumer, House Democratic Leader Nancy Pelosi of California and other Democratic leaders will roll out the agenda Monday in Berryville, Va., part of a district they hope to win in 2018 by defeating GOP Rep. Barbara Comstock, of McLean.

“We’re going to raise people’s wages and create better paying jobs,” Schumer said. “We’re going to cut down on their everyday expenses they have to pay. And we’re going to give them the tools they need to compete in the 21st Century.”

 

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