Kamala Harris Plans Historic Federal Ban On 'Corporate Price-Gouging' In Food And Grocery Industries

In an unprecedented move, Vice President Kamala Harris is set to propose a federal ban on corporate price-gouging within the food and grocery sectors.

What Happened: The Harris campaign is planning to announce the proposed ban as part of a wider economic policy platform. The Democratic presidential nominee is expected to officially present this platform at a campaign rally in North Carolina on Friday, CNBC reported on Thursday.

The proposal includes increased scrutiny of potential mergers between large supermarkets and food producers, specifically for the risk of raising grocery prices for consumers. This regulatory package is one of the earliest efforts by the Harris campaign to outline an economic platform independent of President Joe Biden‘s agenda.

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Despite this, Harris’ plan aligns with the Biden administration’s 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 collaboration between the Justice Department and the Federal Trade Commission.

On Friday, Harris will specifically address the meat industry, attributing soaring meat prices to a significant portion of Americans’ increased grocery bills. The Democratic nominee will also propose measures to reduce consumer costs in the prescription drugs and housing sectors.

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

Why It Matters: This proposal follows Harris’s earlier promise to cap unfair rent increases and take on corporate landlords. It also comes after she cast the deciding vote for the Inflation Reduction Act, which has been blamed for the current inflation crisis.

Harris’s focus on consumer protection and corporate regulation aligns with her history of standing with striking workers and challenging corporations, a stance that has earned her the endorsement of United Auto Workers (UAW) leader, Shawn Fain.

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This story was generated using Benzinga Neuro and edited by Pooja Rajkumari