Democratic Party on Corporations Party Platform

Restore Consumer Financial Protection Bureau provisions

Democrats: Tighten financial regulation. Restore Consumer Financial Protection Bureau provisions cut or scaled back by Trump administration. Senate hasn't considered.

Republicans: Loosen financial regulation. Rolled back parts of Dodd-Frank Act, law that tightened regulations for banks and other financial institutions. Loosen rules on interest rates from auto lenders. Ended Obama-era rule making auto lenders ensure minorities weren't charged higher rates.

Financial institutions should never be "too big to fail"

Disallow stashing corporate profits overseas to avoid taxes

• Breaking up too-big-to-fail banks and passing a twenty-first-century Glass-Steagall Act;
  • Expanding Social Security by increasing taxes on those making over $250,000 a year;
  • Preventing employers from cutting the earned pension benefits of more than 1.5 million Americans;
  • Closing loopholes that allow corporations to stash their cash offshore to avoid paying taxes, and using the revenue generated by this policy to create millions of jobs rebuilding our crumbling infrastructure;
  • Making it easier for workers to join unions through majority card-check recognition and by ensuring a first contract through binding arbitration.
    I appreciated the willingness of the Clinton team and the DNC to work with us and create a platform that we could all be proud of. Source: Where We Go From Here, by B. Sanders, p.16-7, on 2016 DNC , Jul 9, 2016

    Auto manufacturers have paid back loans & drive the recovery

    "In early 2009, the auto industry was collapsing. Our plant shut down and I was laid off. And, like so many of us, I was scared. But then President Obama bet on the American worker and rescued America's auto industry, and it's paying off for our economy industry; he and Republican leaders opposed the support President Obama extended to rescue an iconic industry.

    All three of America's biggest auto manufacturers--Chrysler, GM, and Ford--are stronger today because of Pres. Obama's decisive leadership. GM and Chrysler have repaid their outstanding loans years ahead of schedule, new American cars are inspiring pride, and the auto industry added more than 200,000 jobs in the last three years.

    At the same time, President Obama forged an agreement with American carmakers to nearly double fuel efficiency standards in the coming years. Today American carmakers and auto workers are helping to drive a stronger recovery.

    Source: 2012 Democratic Party Platform , Sep 4, 2012

    Transparency in corporate accounting

    Economic growth and job creation depend on free markets and competition, but competition and free markets depend on trust, transparency, and integrity. We are committed to requiring honesty in corporate accounting effective corporate governance, a fair shake for small investors and worker pension funds, a level playing field and competitive bidding practices for those who wish to transact business with the government, and vigorous prosecution of criminal conduct in executive suites. Source: The Democratic Platform for America, p.25 , Jul 10, 2004

    End corporate welfare as we know

    Ending corporate welfare. Many American corporations today pay less than ever in taxes because of tax loopholes secured by powerful lobbyists. We will end corporate welfare as we know it. We will eliminate the indefensible loopholes in our tax code- from tax deals that have no purpose but avoiding taxes to the very shelters that Enron used to drive so many lives toward financial ruin. And we will eliminate the corporate subsidies that waste taxpayer dollars and undermine fair competition. Source: The Democratic Platform for America, p.25 , Jul 10, 2004

    Tax credits and investment support for small business

    Promoting small businesses. Small businesses and entrepreneurs are the lifeblood of our economy. We will encourage small business growth with a plan to make it easier for small businesses to secure capital and loans. We support tax credits and energy investments that slash overall operating costs for small businesses and encourage them to grow and expand here in America. For America’s 350,000 small manufacturers, which account for over half the total value of U.S. industrial production and employ 11 million people in high-skill, high-wage jobs, we will double funding to use technology to grow. We will help businesses cope with the skyrocketing cost of health care by reforming our health care system & cutting taxes to help small businesses pay for health insurance. Retiree health costs impose major burdens on many employers, particularly manufacturers, and we will push for reform so that companies are not forced to choose among retirees, current workers, and their own ability to compete. Source: The Democratic Platform for America, p.21 , Jul 10, 2004

    Government counters the concentration of economic power

    Democrats question the results of our economy as sometimes unjust or unproductive and in need of correction. We question the concentration of economic power and see government as a necessary check on the system to ensure fair treatment for all people. Democrats see government as a means to fulfill each individual's potential by leveling the playing field, removing obstacles, and striving to provide opportunity for all. Source: Crossroads, by Andrew Cuomo, p. 66 , Oct 14, 2003

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    Page last updated: Feb 24, 2022