In a bold move aimed at addressing rising consumer costs, Vice President Kamala Harris is set to propose a federal ban on corporate price-gouging within the food and grocery sectors. This announcement, scheduled for a campaign rally in North Carolina on Friday, forms part of a wider economic policy platform being unveiled by the Democratic presidential nominee.
The proposed ban is designed to combat the surge in grocery prices that has burdened consumers in recent times. Harris’s plan goes beyond simply prohibiting price-gouging, encompassing increased scrutiny of potential mergers between large supermarkets and food producers. This heightened scrutiny aims to prevent these mergers from further driving up grocery costs for consumers.
This regulatory package represents one of the earliest efforts by the Harris campaign to outline a distinct economic platform, separate from the agenda of President Joe Biden. Despite this independence, Harris’s plan aligns with the Biden administration’s broader focus on consumer protections and opposition to massive corporate mergers. Earlier this year, the White House initiated a “Strike Force on Unfair and Illegal Pricing,” a collaborative effort between the Justice Department and the Federal Trade Commission.
Harris will specifically address the meat industry at the rally, acknowledging the significant contribution of soaring meat prices to the overall increase in grocery bills for many Americans. The Democratic nominee will also unveil measures aimed at reducing consumer costs in the prescription drugs and housing sectors.
This announcement comes just two days after former President Donald Trump, Harris’s opponent, blamed her for the high price of consumer goods in his own economic policy speech in North Carolina. This proposal further strengthens Harris’s commitment to addressing consumer concerns, building upon her earlier pledge to cap unfair rent increases and challenge corporate landlords. It also follows her casting vote for the Inflation Reduction Act, a piece of legislation that has been criticized for contributing to the current inflation crisis.
Harris’s focus on consumer protection and corporate regulation aligns with her history of advocating for striking workers and challenging corporations, a stance that has earned her the endorsement of United Auto Workers (UAW) leader, Shawn Fain.
