WASHINGTON (Dow Jones) -- Congressional Democrats emphasize that they aim to rule from the center, but that doesn't mean they're backing off a populist agenda that includes boosting the minimum wage, eliminating tax breaks for oil companies, and re-opening the controversial Medicare prescription drug benefit.

"I understand my responsibility: Speaker of the House, of all of the House, not just the Democrats, and the responsibility to work with the administration to make progress for the American people," said Rep. Nancy Pelosi of California, who is set to become the first female speaker in history, after a lunch meeting Thursday with President Bush.

Pelosi and other Democrats have also pledged not to shut out Republicans in the legislative process, allowing them a greater role in debate and in conference negotiations to iron out differences between House and Senate versions of legislation.

"With Nancy Pelosi extending the olive branch and calling for a bipartisan approach in the next session, issues that have support from both parties, such as health information technology or immigration reform, may see the most traction early on," says Cynthia E. Berry, a lobbyist with Powell Goldstein.

On the tax front, efforts to address the alternative minimum tax -- a top priority of incoming Ways and Means Committee Chairman Charles Rangel of New York -- could also bear fruit, Berry said, and Republicans and Democrats might work together to permanently extend the research and development tax credit, Berry said.

To view the full article please look for the 11/9/06 edition of the Dow Jones Business Wire News

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