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Democrats are calling for harsh new punishments on companies that outsource jobs and a crackdown on currency manipulation, embracing a more populist economic agenda as they seek to win back control of Congress in next year’s midterm elections.
Senate Minority Leader Chuck Schumer of New York announced the plan Wednesday morning with fellow party Rust Belt lawmakers such as Sen. Debbie Stabenow of Michigan and Sen. Joe Donnelly of Indiana.
The program would establish the American Jobs Security Council, which would review pending purchases of American companies by foreign corporations. Schumer said the panel would have the power to block a deal if it would hurt American workers or the economy.
“Simply put, this council has the power to slam the door shut on foreign companies who want to buy up American businesses and harm our workers,” he said.

The Democrats’ proposal represents the second phase of Democrats’ new platform — dubbed “A Better Deal” — aimed squarely at the blue-collar workers that helped propel Democrats call for new ‘outsourcing tax’