The campaign of Vice President Kamala Harris said late on Wednesday that she would put up the first-ever government prohibition on “corporate extortion in the grocery and food sectors.”
The Harris campaign released a statement stating, “Fair pricing in marketplaces with plenty of competition differs greatly from exorbitant rates that have nothing to do with operating expenses.” “American grocery bills reflect that difference.”
The Democratic presidential nominee intends to introduce a more comprehensive economic policy agenda on Friday at a campaign rally in North Carolina, a key battleground state. This includes the proposed ban.
In addition, Harris’ campaign stated that if elected president, she would order her administration to closely monitor any possible mergers involving big-box retailers and food manufacturers, “particularly for the risk that the proposed merger would raise grocery prices for consumers.”
One of the first attempts by the Harris campaign to present an economic platform separate from President Joe Biden’s agenda is this set of regulatory suggestions.
Biden spent more than a year campaigning for reelection and blasting corporate greed for consumer prices driven higher by inflation before abruptly withdrawing from the race in July and endorsing Harris.
Harris’ proposal is still very much in line with the broader Biden regulatory strategy, which has put consumer safeguards first in a number of industries and filed lawsuits to stop multiple large corporate mergers.
The Justice Department and the Federal Trade Commission joined forces to create the Strike Force on Unfair and Illegal Pricing, which was announced by the White House in March.
According to a campaign release, Harris will specifically target the meat business on Friday, claiming that “Even while meat processing companies reported record-breaking profits after the epidemic, a significant portion of Americans’ higher shopping expenses can be attributed to skyrocketing meat prices.”
The Democratic front-runner for president will also present plans to lower prices for consumers in two other areas where businesses have actively used their pricing power: housing and prescription medications.
Two days prior to Harris’s address, her rival, former President Donald Trump, made his own economic policy speech in North Carolina, when he held Harris accountable for the exorbitant cost of consumer products.
In Asheville, Trump declared, “At the grocery store, on your mortgage bill, and at the gas pump, you are bearing the cost of [Harris’] liberal radicalism.”
Harris has already eliminated Trump’s lead over Biden in national and swing state surveys, hardly one month into her campaign.
However, voters continue to choose Trump over Democrats when it comes to who they think will be better for the economy.