Vice President Kamala Harris is set to announce a significant push for a federal ban on price gouging as part of her broader economic platform aimed at lowering grocery prices and everyday costs. This proposal, which Harris will unveil during a speech in North Carolina on Friday, marks one of the key initiatives she plans to implement within her first 100 days in office if elected, according to a campaign official.
Addressing High Grocery Costs
The Biden-Harris administration has faced ongoing criticism over high grocery costs, which have surged since the pandemic. Despite recent data showing a slowdown in food inflation, Harris aims to capitalize on this momentum by presenting a comprehensive plan to tackle high grocery prices. This initiative is part of her broader strategy to address the economic concerns of Americans, a critical issue as the 2024 election approaches.
Federal Ban on Price Gouging
Harris’ proposal includes the first-ever federal ban on price gouging by food corporations, a move designed to protect consumers from unfair pricing practices. In addition to the ban, Harris will call for the Federal Trade Commission (FTC) and state attorneys general to investigate and penalize food companies that violate the new regulations. This proposal builds on President Joe Biden’s focus on combating price gouging and aims to expand those efforts.
Political and Economic Context
Harris’ push for a federal ban comes as she and President Biden trail behind former President Donald Trump in most major voter surveys regarding economic issues. The vice president has been vocal about the impact of high food costs in recent campaign speeches, a topic some Democrats believe Biden should have addressed earlier in his presidency. Republicans, however, have criticized Democrats for high food prices, arguing that their policies have contributed to inflation.
Trump’s campaign has already responded to Harris’ upcoming announcement, with spokesperson Steven Cheung accusing Harris of trying to “gaslight” Americans about the state of the economy. “Kamala Harris can’t hide from her disastrous record of skyrocketing inflation,” Cheung said, adding that Americans continue to struggle under the Biden-Harris administration’s economic policies.
Expanding the FTC’s Authority
In addition to proposing a federal ban on price gouging, Harris will argue for expanding the FTC’s authority to crack down on price-fixing and other unfair practices within the food industry. This proposal aligns with ongoing efforts by FTC Commissioner Lina Khan, who has been working to curb such practices under the current administration.
Harris’ call for stronger regulatory action mirrors legislation introduced by Democratic Senators Elizabeth Warren, Bob Casey, and Tammy Baldwin, although the legislation has stalled in Congress due to GOP opposition.
Tackling Corporate Control of the Food Supply
Harris will also address the issue of corporate control over the U.S. meat supply, which she argues has contributed to unfairly high consumer prices since the pandemic. She plans to continue and expand initiatives started under the Biden-Harris administration to support small businesses in the meat industry, aiming to foster competition and reduce consumer prices.
Harris will highlight her experience as California’s attorney general, where she aggressively targeted corporate greed, including price-fixing in the meat supply chain. She plans to direct her administration to take further steps to crack down on unfair mergers that could inflate food prices, drawing on her record of prosecuting such cases.
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