Joe Biden has consolidated his lead in the race to win the Democratic presidential nomination. Tuesday’s wins in Michigan, Mississippi, Missouri and Idaho now leave Biden with close to 860 delegates (out of the 1991 needed to secure the nomination) versus around 710 for rival Bernie Sanders. With the former vice president now highly likely to be confirmed as the presidential candidate at the July convention, we look at his key policies:
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Joe Biden has consolidated his lead in the race to win the Democratic presidential nomination. Tuesday’s wins in Michigan, Mississippi, Missouri and Idaho now leave Biden with close to 860 delegates (out of the 1991 needed to secure the nomination) versus around 710 for rival Bernie Sanders. With the former vice president now highly likely to be confirmed as the presidential candidate at the July convention, we look at his key policies:
Domestic Policy
Healthcare:
• Expand Obamacare to improve choice while retaining private insurance.
• Expanding tax credits related to healthcare and overall coverage for low earners.
• Address the high price of prescription drugs.
• Protect abortion rights.
Education:
• Reduce disparities in funding between white and non-white schools.
• Offer pre-kindergarten places for all 3- and 4-year olds.
• Improve access to higher education with two additional years of free education.
• Raise teacher pay.
Infrastructure:
• Spend $1.3 trillion dollars over the next decade to revitalize existing highways and bridges, improve the electric grid and rural broadband, and build high-speed railroads.
• Investment (including digital infrastructure) to help the middle class.
• Speed up the transformation to a greener economy.
• Create more high-paying construction and technical jobs.
Social:
• Raise the federal minimum wage.
• Introduce paid family and sick leave.
Taxes:
• Raise corporate tax to 28% and introduce a 15% minimum on large companies.
• Increase existing taxes on the highest earners to 39.6%.
• Increase capital gains tax.
Tech:
• Revoke Section 230 legislation, which shields tech companies from liability for the content posted on their platform.
• Subject tech companies to civil liability laws.
• Take a “hard look” at whether big tech should be broken up.
Foreign Policy
• Support America’s allies: re-establish US alliances and return to a cooperative rather than unilateral approach, including working with the UN. Support the opposition in Turkey and the ability of the democratic process to defeat President Erdogan.
Climate Change
• Recommit to the Paris Climate Accord.
• Target a 100% clean energy economy and net-zero emissions by 2050.
Sources: Politico, Joe Biden’s website, Reuters plus this New York Times transcript.
(The commentary contained in the above article does not constitute an offer or a solicitation, or a recommendation to implement or liquidate an investment or to carry out any other transaction. It should not be used as a basis for any investment decision or other decision. Any investment decision should be based on appropriate professional advice specific to your needs.)