PNN – High prices ahead of the November 5, 2024 US presidential election is one of the main concerns of many Americans who are struggling to make ends meet after a period of high inflation.
According to the report of Pakistan News Network, according to American media reports, many American people have given Joe Biden, the current democratic president of the country, a poor score because of his performance in the economy, and his vice president, Kamala Harris, may also face their anger.
Harris wants to tackle rising food costs as part of his economic agenda, which she argues is in part caused by large grocery chains keeping prices high while their production costs have fallen.
To do that, she’s calling for the first federal ban on food and grocery price increases. She also proposed new powers for the Federal Trade Commission and state attorney general to investigate and punish companies that unfairly take advantage of consumers to make more profits.
Harris has echoed many of the same economic themes as Biden in his campaign speeches, saying she wants to give Americans more opportunities to prosper.
At a rally in July, he vowed to continue the Biden administration’s efforts to eliminate so-called junk spending and fully disclose all abuses in sectors such as housing and car rentals.
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In an economic policy speech, Kamala Harris called for millions of new homes to be built and help for first-time homebuyers, tax breaks for families and a ban on “artificial price gouging” or overselling.
The candidate of the Democratic Party in the US presidential election plans to expand the economic plans of the Biden administration and to address the voters’ concerns about price inflation. Many of his proposals would require congressional action, where similar initiatives have previously been blocked.
Harris said: On day one, I address price increases and lower costs. We will ban more hidden fees and late fees that banks and other companies use to secure their profits.
Republican candidate Donald Trump’s campaign has described Harris’ policies as “dangerously liberal.” Harris responded in North Carolina: I think if you want to know who a candidate cares about, look at who he’s running for.
The candidate of the Democratic Party added: Donald Trump is fighting for billionaires and big companies. I’m fighting to bring money back to working and middle class families.
Harris is sponsoring federal legislation to ban companies from overcharging for groceries, and has called for congressional action on a bill that would bar landlords from using services to “coordinate” rent. These are software that allow homeowners to increase prices based on market data, demand, and other factors.
Democrats and their allies hope Harris will have a stronger and more reliable voice than Joe Biden in alleviating economic suffering.
But Donald Trump says Harris has had more than three years as vice president to keep her promises and asked, “Where has she been and why hasn’t she done it before?”
American economic analysts say there is no doubt that the federal government can influence the price of certain goods and services. However, widespread price reductions are not only impossible, but would create a crisis from which it would be difficult to escape.