A truly prosperous American economy is one that is diversified, driven by innovation, and works for all people. I believe that to achieve this across the country, we must embrace technology and use it as a vehicle to put people to work. I support advanced American manufacturing as well as a nationwide investment in high-tech apprenticeships and worker training programs.
Empowering a strong middle class will require an economy that benefits everyone, not just those at the top. And this starts by making good, technology-based jobs available and accessible across America. Enrico Moretti, a Berkeley economist, found that for every tech job, five other new jobs are created. This multiplier effect creates important service jobs such as baristas, doctors, lawyers, and dry cleaners, among many others.
I believe that working families are the backbone of this country, and that’s why I have made lifting them up a central part of my agenda. I am introducing a more than $1 trillion expansion of the earned income tax credit (EITC) that would provide a much-needed boost to American families to make up for wages lost to inflation over the past four decades.
I also support paid family leave, training programs for mid-career workers, and increasing the hourly minimum wage to $15. It is vital that we fight for working families, because they are the incubator of the American dream.
Consumer protection laws are Americans’ first lines of defense against unethical companies. These laws hold big corporations accountable and prevent harm to consumers. I support legislation that protects consumers and will oppose any bill to defund the Consumer Financial Protection Bureau.
Data breaches of major credit reporting bureaus demonstrate we need stronger laws to prevent situations like this from happening again. When you apply for a mortgage, credit card, auto loan, or almost anything having to do with credit, a company will check your credit report provided by the three private credit reporting companies.
What you can do to protect yourself
If you have a credit report, it is likely that your personal information was compromised by the Equifax data breach. Please take the time to go through the resources below and take the steps required to keep your identity safe.
- The Equifax Data Breach: What To Do (Federal Trade Commission)
- Identity Theft Protection Guide (Consumer Financial Protection Bureau)
- Top 10 ways to protect yourself in the wake of the Equifax data breach (CFPB)
- For Servicemembers: How to protect your identity (CFPB)
- Equifax isn’t calling (FTC)
What I am doing to protect you
In the wake of this disastrous breach of data and trust, I have signed onto the following bills that will help Americans respond to the Equifax hack now and protect your financial future.
- Credit Information Protection Act – Requires any credit reporting agency that suffers a data breach to allow consumers to initiate a security freeze on their information free of charge.
- Cyber VICTIM Act – Directs the President of the United States to designate a federal official as the Interagency Cyber Victim Response Coordinator.
- Personal Data Notification and Protection Act – Requires that companies and the FTC work together to notify affected individuals within 30 days of the discovery of a breach of sensitive personal information.
Click here to learn more about the bills that I introduced and cosponsored.
Read my op-ed in the Sacramento Bee on making the economy fairer for working families.
Read my op-ed in the Washington Post on how to improve U.S. manufacturing.
More on Economy
In anticipation of the midterm elections, congressional Republicans have recently proposed making their tax cuts permanent. The price tag would amount to $1.1 trillion over the next 10 years. The problem with the 2017 tax law is that it was geared at the investor class, not the middle class. Making the cuts permanent would give the top 1% of income earners more than double the tax savings of those in the bottom 60%.
Congressman Ro Khanna wants to inspire companies to do better by their workers.
"It's absurd that you have multi-billion dollar companies, trillion-dollar companies that aren't able to pay their workers $15," Rep. Khanna said Friday in an interview on Cheddar.
Watch the video here.
Sen. Bernie Sanders (I-Vt.) on Wednesday introduced a Senate bill — the "Stop BEZOS Act" — that would require large employers such as Amazon.com and Walmart to pay the government for food stamps, public housing, Medicaid and other federal assistance received by their workers.
The bill's name is a dig at Amazon chief executive Jeffrey P. Bezos and stands for “Stop Bad Employers by Zeroing Out Subsidies Act.” It would establish a 100 percent tax on government benefits received by workers at companies with at least 500 employees, the former presidential candidate said Wednesday.
Last week, one of President Trump’s top economic advisers, Larry Kudlow, argued that the U.S. economy is “crushing it,” posting boom-like numbers in key areas, all thanks to the leadership of the president.
Rep. Ro Khanna, a Democrat from Silicon Valley, has introduced an ambitious new bill that would offer work to virtually any American struggling with a long spate of unemployment—but whatever you do, don’t call his plan a job guarantee.
Even with record low unemployment and corporate profits increasing, workers are not feeling the love. Nearly three quarters of American workers are making less money this year than last, inflation adjusted median incomes have declined over the last 50 years, and housing prices have skyrocketed. Toss robots and automation into the mix, and it creates a recipe for economic insecurity that raises fundamental questions about the long-term sustainability of pay.
Progressive Democrats’ embrace of some kind of federal jobs guarantee program—harkening back to a policy prescription issued in President Franklin D. Roosevelt’s 1944 State of the Union address—got a boost on Tuesday in the form of a new House bill.
Rep. Ro Khanna (D-CA), a freshman member who recently also joined the “Medicare for All” caucus, will introduce the Job Opportunities for All Act on Tuesday with nine additional co-sponsors, including Reps. Raúl Grijalva (D-AZ), Mark Pocan (D-WI) and Yvette Clarke (D-NY).