Aides to Vice President Kamala Harris are walking back her suggestion that a proposed ban on “price gouging” on food products would lower prices for consumers, The New York Times reported Wednesday.
Harris announced the proposed ban on “price gouging” in a speech on Friday. speech In North Carolina, Ms Harris has come under fire for what some have criticised as price controls, but an anonymous source familiar with her thinking said the policy The New York TimesHe said prices were unlikely to fall immediately because the ban on “price gouging” would only come into effect in practice in emergency situations.
Harris' proposal is specific to the food and grocery industry and isn't driven by specific numerical targets or barometers, a source familiar with Harris' thinking told The New York Times. The proposal would also likely only take effect in situations such as immediately after a natural disaster or when a new pandemic emerges. The U.S. isn't in that situation right now, so the plan “may not actually do anything to lower food prices right now.” (Related story: 'Worst case scenario': Ex-President Obama's economist criticizes Kamala Harris' nationwide 'price controls' plan)
'Scariest proposal I've ever seen': Ex-Trump economic adviser reacts to Kamala Harris' price control plan pic.twitter.com/WQc9bJ6vuf
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Governor Harris, in her North Carolina speech, did not offer many details about her plan to prevent “price gouging” by food companies and grocers, but noted that her plan “includes new penalties for opportunistic companies who take advantage of the crisis to break the rules.” Governor Harris throughout her speech strongly hinted that her proposals, including subsidizing housing needs, would make life more affordable for ordinary middle-class Americans struggling with persistent inflation.
According to The New York Times, the lack of details on the price gouging ban has put Harris in a political quagmire: It's been hard for her to sell her proposal as an effective way to bring relief to ordinary Americans, while her team has downplayed its impact and others familiar with her thinking have told reporters the policy may have little impact in practice.
Former President Donald TrumpEconomist, Editorial Board The Wall Street Journal and The Washington Post He harshly criticized Harris' proposal on Friday as collectivist and poor policy. Enterprise mediaand other Democrats have tried to defend the policy or suggest the criticism stems from Republican partisan talking points.
“She is not in favor of price fixing. That's a distortion, that's a Republican argument,” Commerce Secretary Gina Raimondo said in a speech Tuesday. exterior “We're saying that where there's evidence, there should be limited pursuit of companies,” he told CNBC.
The Harris campaign did not immediately respond to a request for comment.
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