Fetterman unveils 5-point accountability plan if elected to U.S. Senate

Editors note: this story has been updated to include a statement from Fetterman's campaign regarding his Verizon stock.

Democratic Senate candidate John Fetterman this week unveiled a five-point economic plan “to hold Washington accountable,” proposing tax cuts, expanding manufacturing and capping out-of-pocket costs for health insurance.

The plan posted on Fetterman’s campaign website and appearing in an ad that began airing earlier this week would also support a ban on stock trading for members of Congress and prosecuting executives of “huge corporations” for “immoral price gouging.”

“The truth is that our economy is a mess because of Washington. The rich, the powerful, the insiders, and the lobbyists,” said Fetterman in the ad. “It’s Washington’s fault. They set the rules, weakened our supply chain, and spiked inflation. But we can fix our economy.”

A financial disclosure form from Fetterman filed on May 17, the same day the former Braddock mayor won his party’s nomination, shows he owns one share of Verizon stock valued at between $1,000 to $15,000. The disclosure adds that the stock accounts for about $200 to $1,000 of income.

Emilia Rowland, a spokesperson for Fetterman's campaign, on Thursday described the income from the stock as diminutive and that Fetterman would either sell the stocks or put them in a blind trust if elected.

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Fetterman proposes growing manufacturing jobs in part by increasing requirements that federal government contracts buy from domestically made goods.

Fetterman said he would favor suspending the federal gas tax and dropping tax rates for most working Americans across the board while creating a “financial transaction tax” for “Wall Street, hedge fund managers, and mega-millionaires.”

The plan also proposes the government should be going after “pharmaceutical companies that jack up the prices” and passing legislation to allow the import of cheaper medications from other countries and capping prescription costs.

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Fetterman’s economic plan comes just days after his official return to the campaign trail running against Republican Mehmet Oz, whose campaign described Fetterman’s plan as “radical policies” and “big-government overreach” that would harm businesses.

"As an entrepreneur, Dr.Oz understands the challenges our small business owners face because of government regulations that stifle growth and opportunity and he will fight the disastrous Biden-Fetterman agenda and put Pennsylvanians first," said Rachel Tripp, a spokesperson for Oz’s campaign.

The Senate race in Pennsylvania deciding who will replace retiring Republican Sen. Pat Toomey is one of several closely watched congressional races across the country.

The current Senate is split 50-50, with Democratic Vice President Kamala Harris serving as the potential tie-breaker. Twenty-one Republican seats are on the ballot this November to the Democrats' 14.

This article originally appeared on Bucks County Courier Times: Fetterman's economic plan targets manufacturing growth, tax cuts