Push From Left May Boost Wages, Impact 2016
Democrats feeling push from the left, reports W. Post: "Under strong pressure from liberals, the [congressional budget] panel has effectively abandoned discussion of a 'grand bargain' agreement partly because it probably would involve cuts to Social Security ... liberals have accelerated their push for a higher minimum wage — successfully persuading Obama to support a $10.10-an-hour proposal after he suggested $9 an hour this year. They also are making a case for tougher financial regulations, specifically targeting massive banks they would like to break up ... 'It’s real things in the economy that Democrats have been too timid to address or Republicans have blocked them from addressing,' said longtime liberal activist Roger Hickey, co-director of Campaign for America’s Future ... Another potential source of pressure building on the left is Sen. Bernard Sanders [who] has said he might run for president if no liberal he considers adequate steps up."
Krugman makes the case for higher minimum wage: "...we have a lot of evidence on what happens when you raise the minimum wage. And the evidence is overwhelmingly positive: hiking the minimum wage has little or no adverse effect on employment, while significantly increasing workers’ earnings ... Early this year the Economic Policy Institute estimated that an increase in the national minimum wage to $10.10 from its current $7.25 would benefit 30 million workers. Most would benefit directly, because they are currently earning less than $10.10 an hour, but others would benefit indirectly, because their pay is in effect pegged to the minimum..."
Minimum wage would have tripled if it kept pace with top 1%, finds ThinkProgress: "As minimum-wage jobs have provided less and less stable economic footing for working people, the wealthiest sliver of the country has seen astronomical gains in their compensation. If instead the federal minimum wage had grown at the same rate as one-percenter earnings, it would sit at $22.62 per hour today — 212 percent higher than the current wage floor."
HealthCare.Gov Greatly Improved, Work Continues
Obama administration says deadline met for improved HealtlhCare.gov site, but more work left to do. AP: "How many problems are left? That's the question consumers and lawmakers alike will be eying before ... Dec. 23 ... as consumers rush to meet the deadline so their coverage can kick in on the first of the year. 'There's not really any way to verify from the outside that the vast majority of people who want to enroll can now do so, but we'll find out at least anecdotally over the coming days...,' said Larry Levitt, a senior adviser at the Kaiser Family Foundation. But, he added, HealthCare.gov is clearly working better than when it first went online. Its challenge now is to convince users who were frustrated during their first visit to give it another chance."
Insurers remain concerned about unresolved back-end issues. NYT: "The issues are vexing and complex. Some insurers say they have been deluged with phone calls from people who believe they have signed up for a particular health plan, only to find that the company has no record of the enrollment. Others say information they received about new enrollees was inaccurate or incomplete, so they had to track down additional data — a laborious task that would not be feasible if data is missing for tens of thousands of consumers.
Congress Grapples With Food Stamps, Trade
Congress close to a farm bill deal, reports National Journal: "...there is basic agreement on the crop-insurance program as the centerpiece of the farm program ... On the cut to the Supplemental Nutrition Assistance Program, or food stamps, [GOP Sen. John] Hoeven, like other policymakers, said it should be based on policy rather than numbers. But he said he can see a compromise coming. States should have to increase the payments they make under the Low Income Home Energy Assistance Program to qualify SNAP participants for higher benefits, and there should be requirements that food-stamp participants work, get training, or be involved in community service, although states should still be able to exempt people who have to care for dependents. But he said that if Congress adopts those policies and takes into consideration the cut of more than $11 billion over three years that went into effect when the Recovery Act boost expired Nov. 1, the amount would be equal to the $20 billion cut over 10 years that was the goal when the House Agriculture Committee passed the bill."
"Fast-track" trade negotiation authority bill may be unveiled this month. The Hill: "Senate Finance Committee Chairman Max Baucus (D-Mont.) and House Ways and Means Committee Chairman Dave Camp (R-Mich.) are closing in on an agreement to renew Trade Promotion Authority ... a fast-track authority bill could be introduced in December ... [Passage next year] would require an all-hands-on-deck push from the business community, the White House and every department involved in trade, from Commerce to State and the U.S. Trade Representative ... But forces of congressional opposition have waylaid progress, so far."
