Price Gouging Has Been Enabled Through Decades Of Unchecked Corporate Consolidation. The Strike Force Will Protect Consumers From Unfair Pricing And Unbridled Corporate Power.
FOR IMMEDIATE RELEASE
Contact: Henry Burke, burke@therevolvingdoorproject.org
In response to the announcement of the Biden Administration’s multi-agency pricing “strike force,” Revolving Door Project Executive Director Jeff Hauser released the following statement:
“Decades of corporate consolidation and mergers have allowed fewer firms to face real competition and allowed corporate price gouging – particularly on essentials – to flourish. Under the Biden Administration, the FTC and DOJ Antitrust Division have helped stem the tide of corporate consolidation, ending the decline in fair competition that occurred under previous administrations of both parties.”
“Now, I am excited to see the administration step up to protect consumers from corporate giants who see themselves as above the law. The American people are sick of being victimized by unchecked corporate greed and this announcement sends a clear message that the White House prioritizes American consumers over Wall Street shareholders – a stark contrast with his predecessor.” Hauser continued.
Revolving Door Project Research Director, Andrea Beaty joined in, stating, “While this task force is an exciting step forward, the threat posed by Republican efforts to slash enforcement budgets is dire. Their avowed support for law and order ends wherever corporate profits begin. The recent funding bill includes massive cuts to DOJ Antitrust in a clear effort to reverse the strides Jonathan Kanter and Lina Khan have made holding monopolistic companies accountable. Those celebrating these efforts to curtail illegal pricing must also fight to ensure the agencies tasked with the job have the staff and resources to do so.”
“Americans have been calling out price gouging for years now. It’s good to see the Administration is responsive to these concerns and is going after those corporations breaking the law to do so. Hopefully the media will recognize that an election dominated by discussions of consumer prices should center on how the candidates would or would not utilize the executive branch to side with consumers or corporations ” concluded Hauser.
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