General Discussion
In reply to the discussion: Bill Clinton was a great president [View all]pnwmom
(108,977 posts)through a tech bubble.
https://www.americanprogress.org/issues/economy/report/2011/10/28/10405/power-of-progressive-economics-the-clinton-years/
Over the course of the Clinton administration, the president and Congress agreed on a number of policies aimed directly and primarily at supporting working families to clear their path for success. They enacted:
An increase in the minimum wage. In 1996 Congress passed a 20 percent increase in the minimum wage, raising it from $4.25 to $5.15 in two steps. The wage increase boosted earnings for nearly 10 million Americans, almost half of whom were working full time. Furthermore, empirical studies conducted in the aftermath proved that there were no negative impacts on overall employment.
The Family and Medical Leave Act. The very first law that President Clinton signed was the Family and Medical Leave Act, which ensured parents could take up to 12 weeks of unpaid leave to care for a newborn or a sick relative without risking their job. Over the next eight years, more than 35 million workers took advantage of its protections. And though critics warned that the FMLA would hurt businesses, subsequent research showed that businesses had no trouble complying with the new law.
The child tax credit. Middle-class tax cuts were central to the budget deal President Clinton negotiated with Congress in 1997. The child tax credit included in that deal directly reduced a familys income tax bill by $500 per eligible child. This was estimated to direct between $16 billion and $19 billion a year in tax benefits to families with children.
The Clinton administration also saw that they could grow the economy by opening up the middle class to everyone willing and able to take on the responsibility of work. To that end, Congress and the administration promoted smart labor market policies that included:
An expanded earned income tax credit. The EITC offsets federal income taxes, and for many low-income workers, portions of their payroll taxes as well. The EITC increases as earnings increase, up to a point, so it encourages additional work. In 1993, as part of his larger budget package, Clinton and Congress expanded the EITC to give a larger benefit to working families and allow childless workers to benefit as well.