PLEASE SUPPORT KATIE PORTER - A VOICE FOR CONSUMERS!
Whether it's $9.99 for bacon (to my kids' dismay) or more than $6 per gallon for gas–big corporations are price gouging Americans. Let me break it down for you:
We know this is price gouging and not just inflation because:
- Big Oil is raising gas prices disproportionately higher than the cost of barrels of oil.
- Companies like Shell are reporting $9.1 billion in profits last quarter, three times higher than this time last year.
Why hasn't someone stopped them?
- Because the federal government doesn't have the ability to investigate price gouging, these powerful corporations are left unchecked (and the money they give to many Republicans certainly helps them keep it that way).
Here's what we need to do to fix it:
- Pass legislation (like the bill I introduced–the Consumer Price Gouging Prevention Act) that will make price gouging illegal so that the federal government can hold these bad actors accountable. This bill passed the House but is stalled in the Senate.
- Crack down on monopolies which result in higher prices. It's the simple equation you probably learned about in high school economics. You will get a better price for pasta if there are ten big companies in the game rather than two or three.
We need an economy that is strong, stable, and globally competitive. Capitalism requires competition, and I'm proud to keep fighting for an economy that works for working people–not just big corporations.
Katie
Katie is running for re-election in California's 47th district, which includes Irvine and coastal Orange County. This purple district contains an equal number of Democrats and Republicans and is a must-win for Democrats. Consider pitching in today so we have the resources to keep Katie in Congress fighting for working people. |
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