Moderate Democrats push their party to do more to fight inflation

A coalition of moderate House Democrats is urging the party to fight harder to combat inflation, calling for action on issues ranging from tariffs to immigration and drug prices.

The list of proposals Wednesday from the New Democrats, the largest voting bloc in the caucus, calls for executive action by the White House and legislation in Congress. They aim to break through gridlock in Washington to answer increasingly anguished pleas from constituents who face rising prices at the pump and at the grocery store – before they vent their frustration at the polls in the midterm elections. 

“Good policy is good politics,” Rep. Suzan DelBene, a Washington state Democrat and the group’s chairwoman, told CNBC. “People want us to show them that governance is working and that we’re focused on these issues and moving forward. That’s what will impact voters this November.”

The group spent months debating the recommendations and consulting with top economists such as former Obama adviser Jason Furman and the Brookings Institution’s Wendy Edelberg. Former Treasury Secretary Larry Summers has endorsed the plan.

In a letter Wednesday, New Democrats pushed House leadership to use “every legislative week to advance an affordability agenda.”

The platform comes as the Biden administration ramps up its public response to inflation, which has strained consumers as it sits near 40-year highs. The White House has highlighted recent moves on fuel economy standards, oil supplies and student debt, which it says will help to rein in costs.

But several of the proposals from the New Democrats go beyond what the White House has embraced. Namely, the group called for broad exclusions to tariffs imposed by former President Donald Trump on Chinese imports and a suspension of trade barriers limiting food supply. 

“That’s the one thing that would have the most immediate effect,” said Rep. Scott Peters of California, the group’s vice chairman of policy.

Earlier this week, Commerce Secretary Gina Raimondo said the administration is considering rolling back levies on items such as household goods. But the White House also faces pressure from labor groups to maintain a tough stance against Beijing. 

The New Dems are also urging the administration to continue releasing oil from the Strategic Petroleum Reserve to help bring down prices. So far, the White House has committed to releasing 1 million barrels a day for the next six months.

In addition, the group is emphasizing workforce and immigration: the coalition wants to reform licensing requirements and noncompete agreements,…