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By Emma Dumain Posted at 5:03 p.m. on Feb. 6

Van Hollens economic plan, with its transaction tax on Wall Street, has Grijalva and other members of the CPC encouraged. (Bill Clark/CQ Roll Call)

For members of the Congressional Progressive Caucus, the question of whether Democrats shouldmove to the centeror double down on left-leaning populism after Novembers midterm whacking was never in doubt.

Three months after those historic losses, it seems party leaders agree as CPC-endorsed policies once dismissedas fringe ideas are increasingly providing a new framework for the party.

Progressives are especially optimistic about the massive economic overhaul proposal championed byRep. Chris Van Hollen of Maryland, the Budget Committees top Democrat and a de facto member of leadership.

Van Hollen pitched the proposal Friday inPhiladelphia at the CPCs annual summit.

If economic populism is the new brand and the message, quite frankly and with no bragging the Progressive Caucus has been carrying that brand and message for five or six years, said Rep. Ral M. Grijalva, D-Ariz., during a phone interview a few hours before Van Hollen was scheduled to speak. Mr. Van Hollen being here is an acknowledgment of that.

Van Hollens self-described action plan to grow the paychecks of all, not just the wealth of a few puts a new emphasis on wage growth and income disparity, progressives say.

Were glad he prioritizesjobs, not just deficit reductions, said Grijalvas co-chairman, Rep. Keith Ellison of Minnesota.

Most exciting for CPC members is Van Hollens inclusion ofa transaction taxtargeting high-frequency trading to minimize systemic risk in the financial market.Progressives appreciate the symbolism: The tax goes after Wall Street. Not even President Barack Obama has taken the leap of including a transactiontax in his budget proposals.

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House Progressives Cheer Populism in Van Hollen Plan