Tags: 2020 Elections | warren | businesses | labor | 2020 | wages

WSJ: Warren's Labor Plan Cause for Concern for Businesses

elizabeth warren speaks about one of her plans to supporters
Sen. Elizabeth Warren, D-Mass. (AP Photo/Meg Kinnard)

By    |   Wednesday, 09 October 2019 07:28 PM

Sen. Elizabeth Warren’s extensive labor plan is causing concern for businesses, reports The Wall Street Journal.

Warren, a Democratic presidential frontrunner, unveiled her extensive labor plan last Thursday. It calls for overhauling labor laws, pushing for a minimum federal wage of $15, increased penalties for violations of wage-and-hour laws, worker safety rules and anti-discrimination statutes, and industry-wide bargaining, among other proposals.  

“She could create an environment where it is next to impossible to function” for health insurers, Vicky Gregg, a former chief executive of BlueCross BlueShield of Tennessee and now partner in a private-equity firm, told the Journal. “There’s no question that keeps you up at night if you’re a health-plan executive.”

In her plan, Warren argues that wages have largely stagnated as corporate profits have soared. “The share of national income that goes to labor has declined and is near its lowest point in almost 70 years,” she wrote in the 14-page proposal.

“These trends reflect a shift of trillions of dollars away from the pockets of working families. And they are all driven by a single underlying problem: American workers don’t have enough power.”

The U.S. Chamber of Commerce called Warren’s plan unconstitutional.

“Recycling failed policies of the past is not a winning formula for the future. In fact it’s undemocratic, unconstitutional and bad for American workers,” Chamber Executive Vice President and Chief Policy Officer Neil Bradley told The Hill in a statement last Thursday.

© 2019 Newsmax. All rights reserved.

   
1Like our page
2Share
Politics
Sen. Elizabeth Warren's extensive labor plan is causing concern for businesses, reports The Wall Street Journal.Warren, a Democratic presidential frontrunner, unveiled her extensive labor plan last Thursday. It calls for overhauling labor laws, pushing for a minimum federal...
warren, businesses, labor, 2020, wages
239
2019-28-09
Wednesday, 09 October 2019 07:28 PM
Newsmax Media, Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved