Kamala Harris plans historic federal ban on “corporate price gouging” in the food industry

In an unprecedented move, Vice President Kamala Harris will propose a nationwide ban on price gouging by companies in the food and grocery sector.

What happened: The Harris team plans to announce the proposed ban as part of a broader economic policy program. The Democratic presidential candidate is expected to formally unveil that program at a campaign rally in North Carolina on Friday, CNBC reported Thursday.

The proposal calls for increased scrutiny of potential mergers between large supermarkets and food manufacturers, particularly in light of the risk of increasing food prices for consumers. This regulatory package is one of the Harris campaign’s first attempts to draft an economic platform independent of the president. Joe Biden‘s agenda.

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Still, Harris’ plan is in line with the Biden administration’s focus on consumer protection and opposition to massive corporate mergers. Earlier this year, the White House initiated a “Strike Force Against Unfair and Illegal Pricing,” a collaboration between the Department of Justice and the Federal Trade Commission.

On Friday, Harris will specifically target the meat industry, blaming rising meat prices for a significant portion of Americans’ increased grocery bills. The Democratic candidate will also propose measures to reduce consumer costs in the areas of prescription drugs and housing.

The announcement comes two days after the appointment of the former president Donald Trump, Harris’ opponent blamed her for the high prices of consumer goods in his own economic policy speech in North Carolina.

Why it is important: This proposal follows Harris’ earlier pledge to limit unfair rent increases and crack down on commercial landlords. It also comes after she cast the deciding vote for the Inflation Control Act, which has been blamed for the current inflation crisis.

Harris’ focus on consumer protection and corporate regulation is consistent with her history as a supporter of striking workers and challengers of corporations, a stance that has earned her the support of United Auto Workers (UAW) President Shawn Fain.

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This story was created with Benzinga Neuro and edited by Pooja Rajkumari