What the New Congress Will Mean for Business

Democrats wasted no time yesterday proclaiming a new era in Washington, pledging to put middle-class economic issues at the top of their agenda. They promised fresh scrutiny of drug prices, corporate profits, international trade and more.

While President Bush and Democratic leaders pledged to cooperate, the presumptive chairmen of key House committees laid out plans to challenge the president on many issues important to business interests.

For instance, an exuberant Rep. John D. Dingell (D-Mich.) rattled off a to-do list for the powerful Energy and Commerce Committee, including regulating dietary supplements, promoting electric cars and examining drug-safety procedures at the Food and Drug Administration. "We'll kill the closest snake first," he said when asked about his priorities.

Rep. Charles B. Rangel (D-N.Y.) said he would act quickly as Ways and Means chairman to authorize Medicare to haggle with drug companies over prices. Asked about White House opposition, Rangel wondered whether the president "has any idea of how frustrated the voters were and how much he was responsible for that frustration."

Analysts say that Democrats may find chastened Republicans receptive to some ideas, such as raising the minimum wage, but that compromise will be tough on many issues.

"There's nothing more important on either party's mind than winning the presidency in 2008," said Mark Weinberger, a partner at Ernst & Young LLP and a former Bush Treasury official. "The window for bipartisan cooperation is very small."