On Wednesday, the presidential campaign for Kamala Harris announced an intent to propose the nation’s first federal ban on corporate price gouging in grocery stores and other areas in the food industry.
This move comes as many Americans are struggling under the high cost of food items including meat and dairy, an issue that will likely be critical in deciding the outcome of the November election.
Harris Campaign Statement
The Harris campaign in a statement took aim at the unfairness that many Americans see when buying groceries, and hoped to address what they called “corporate price-gouging.”
“There’s a big difference between fair pricing in competitive markets, and excessive prices unrelated to the costs of doing business,” said the statement. “Americans can see that difference in their grocery bills.”
Meat Blamed
In the statement, the Harris campaign singled out the meat industry for its high prices, mentioning that many are still churning profits despite the increase.
“Soaring meat prices have accounted for a large part of Americans’ higher grocery bills, even as meat processing companies registered record-breaking profits following the pandemic,” according to the statement from her campaign.
Gearing Up For Policy Battle
This planned policy proposal comes as Harris is gearing up for her first policy-focused speech on Friday, where it is predicted Harris will flesh out this idea and outline a board economic policy platform for her campaign.
The New York Times reports that she is set to lay out an economic message to reach voters that will act as a reset for the past narrative by Joe Biden when he was a candidate.
Might Disappoint Policy Wonks
However, some have speculated that Harris will still remain light on details, and choose instead to lean heavily into already established Biden policies in the speech.
“My guess is that the vice president is going to look at this massive collection of Biden administration policies and emphasize the ones that are most important to her,” said former Treasury official Ben Harris, who helped formulate the economic policy for Biden’s 2020 campaign.
Economic Weakness
In recent months, the economy has been a sore spot for the incumbent Democrats. While Biden was the presumptive nominee, he continually struggled with messaging on the topic to connect with voters.
Biden was dogged by the phrase “Bidenomics” which was coined by critics who were fed up with the higher prices. The president tried to flip the script on his critics by embracing the term but ultimately was unable to reverse his image in the minds of many voters.
Rejection of Biden
Harris will have to fight against the perception of many Americans who blame the current administration for the economic conditions they are experiencing.
A poll in May found that 58% of respondents blamed Biden for the worsening state of the economy, saying it was caused by presidential mismanagement.
Competing With Trump
Harris has been under recent pressure from Republicans and critics to come up with policy proposals as she eschews traditional media interviews and press conferences in favor of rallies and social media posts.
Trump has been making a show of hosting multiple press conferences and talking to the media, taunting Harris as “not smart enough” to hold one of her own.
Trump’s Head Start
This week, ahead of Harris’ speech, Trump gave his own speech on his economic policies, where he hammered Harris for supporting far-left ideas.
“You’re paying the price for [Harris’] liberal extremism at the gas pump, at the grocery counter, and on your mortgage bill,” Trump said.
Effects of Inflation
In 2022, inflation in the United States peaked at 9.1 percent in June before slowing down to more reasonable levels in the intervening time.
Although inflation is much lower today, that pro-longed period of sustained high inflation pushed prices up and they have not come back down nearly enough to compensate for many Americans.
Why Are Prices Still High?
Critics of grocery chains blame company greed for the continued high prices, alleging that they have used the pandemic and high inflation as an excuse to get away with jacking up prices and make more money.
Earlier this month, the Federal Trade Commission announced an intent to launch an investigation into the matter to determine why grocery prices have remained so high.
Understanding Why
FTC Chair Lina Khan during a joint FTC and Department of Justice meeting was skeptical of the profits that grocery stores are enjoying while their customers are crushed by prices.
“Many large grocery chains are still raking in enormous profits,” Khan said. “The FTC is determined to understand why.”
