Harris to call for federal ban on price gouging to lower costs in first economic policy speech
The proposal is part of Harris’ efforts to prevent corporations in the food and grocery industries from hiking prices on consumers and is one component of a larger plan she will roll out to tackle high costs and inflation, according to a news release from the Harris campaign.
As part of her first 100 days in office, the vice president’s campaign said she would implement a plan to keep costs down that includes authorizing the Federal Trade Commission and state attorneys general to investigate and implement harsh penalties on companies that violate the federal ban, resources that can detect price-fixing, and more support for small businesses to potentially grow into competitors of large companies.
Harris’ policy speech comes as the economy remains a critical issue for voters. An NPR/PBS News/Marist poll released last week found that Americans trust former President Donald Trump over Harris to handle the economy – but opinions were closely split, with 51% saying Trump would be better at handling the economy while 48% said Harris.
Harris on Saturday backed the elimination of taxes on tips for hospitality and service workers, endorsing a policy first suggested by Trump. The proposal was one of the first notable policies the vice president has offered since ascending to the top of the Democratic ticket last month.
In her speech, Harris will draw a contrast between her and Trump’s economic agendas and argue that his plan would increase inflation and costs for middle-class families. She will also make the case that former president’s economic policy will impose hidden tariffs on everyday household items.
Ahead of Trump’s economic speech on Wednesday in Asheville, North Carolina, the Harris campaign blasted the former president over his agenda.
“No matter what he says, one thing is certain: Trump has no plan, no vision, and no meaningful interest in helping build up the middle class. We already know who Trump’(s) Project 2025 economic agenda is designed to benefit: Donald Trump and his wealthy friends,” the campaign said in a news release.
The campaign also criticized Trump’s record during his presidency, arguing he “cost the country millions of jobs, left us on the brink of a recession, and gave massive handouts to billionaires and big corporations.”
While prices still remain high for Americans, the Harris campaign touted the Consumer Price Index released on Wednesday, a key report measuring inflation that showed price hikes slowed more than expected in July and, for the first time in more than three years, landed below 3%.
“Inflation is at its lowest in over three years and our economy is strong,” Harris campaign spokesperson Joseph Costello said in a statement. “Donald Trump’s agenda would take us backwards, giving tax handouts to the same big corporations that are price gouging Americans, while raising prices on the middle class by $2,500 and driving our economy into a recession.”
During her remarks, the campaign said, Harris will highlight her “lifelong commitment to fighting for the middle class,” and make clear to voters that lowering costs will be a “day one priority.”
This policy initiative by Vice President Kamala Harris is aimed at mitigating price increases in the food and grocery sectors, which is part of her broader strategy to address high costs and inflation in the economy. This move is one of many she plans to implement during her first 100 days in office to tackle economic issues.
The Vice President's proposal to keep costs down also includes empowering the Federal Trade Commission and state attorneys general to investigate and penalize companies that violate the federal ban on price manipulation and price-fixing. This is a crucial aspect of her efforts to safeguard consumers from corporate practices that can contribute to rising prices.
