Democrats take aim at big business and drug prices in new economic campaign

Democrats are rolling out a new economic platform in hopes of winning over President Donald Trump's populist base with promises to take on big businesses, lower the cost of prescription drugs and create jobs.

The campaign — "A Better Deal" — is intended as a counterpunch to the president's frequent criticism of the lackluster recovery and stagnant wages under President Barack Obama and Trump's vow to restore the economy to 3 percent annual growth. Democrats are also searching for ways to reconnect with working-class voters whose deep frustration with their own economic prospects helped drive their support for Trump.

"Democrats know that America can have unprecedented economic growth that produces better jobs, better wages and a better future," strategy documents released Monday said. "We believe the best way to grow the economy is to grow and strengthen the middle class, instead [of] going back to the failed trickle-down economies of the past."

Among Democrats' top agenda items is greater scrutiny of corporate mergers, including tougher standards that incorporate consumer privacy, product quality and the impact on wages and jobs. Democrats are also seeking more frequent post-merger reviews and greater enforcement authority.

Those responsibilities would be carried out by a new competition advocate that Democrats have nicknamed the "Trust Buster." One of the deals that could be targeted is AT&T's $85 billion bid for Time Warner, which is awaiting regulatory approval. Other sectors that could wind up in the crosshairs include the beer industry, airlines and eyeglasses.

"We will revisit our antitrust laws to ensure that the economic freedom of all Americans — consumers, workers and small businesses — come before big corporations that are getting even bigger," the document read.

In addition, Democrats are proposing an independent agency to tackle the high cost of prescription drugs. The director would be appointed by the president and confirmed by the Senate, charged with investigating drug manufacturers and able to slap fines on companies with exorbitant rate hikes. Pharmaceutical companies would also be required to notify the government of substantial price increases.

The plan would revamp Medicare by allowing the program known as "Part D" to negotiate prices directly with drugmakers.

"The bottom line is that we will crack down on the companies that excessively raise prices on American customers without justification," the document read.

The campaign would also expand apprenticeship and vocational programs, as well as establish a tax credit for companies that provide on-the-job training. Additional pieces of the broader proposal will be unveiled in the coming months, such as addressing the cost of higher education, infrastructure investment and creating a national family leave program.

Top Democratic lawmakers including Rep. Nancy Pelosi and Sens. Chuck Schumer and Elizabeth Warren are slated to outline the campaign on Monday, laying the groundwork for the party's message in the 2018 midterm elections and beyond. The rollout will take place in Clarke County, Virginia, part of a congressional district that Democrats have long fought to turn blue. It is represented in the House by Republican Barbara Comstock and won by Trump in November.

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