Biden acts on junk fees, food costs, and corporate mergers.
President Biden Takes Action to Lower Costs for Families
President Joe Biden is making significant moves to address the financial burden on families. These initiatives, announced during the fifth meeting of the president’s White House Competition Council, aim to tackle high food prices, prevent monopolistic mergers, and protect consumers during the housing application process.
Cracking Down on Price-Gouging in Food Markets
In an effort to combat price-gouging and anti-competitive practices in food and agricultural markets, the administration is joining forces with two dozen state attorneys general. Additionally, the Department of Agriculture is introducing a “Farmer Seed Liaison” program, empowering farmers to have a greater say in the patenting of new seeds.
Transparency in Rental Housing Fees
The president’s Competition Council is determined to alleviate the financial strain caused by the soaring housing market. To achieve this, the administration is collaborating with private companies, including Zillow, Apartments.com, and AffordableHousing.com. Together, they will launch new website features that reveal all hidden rental housing fees upfront. These fees often include excessive application fees, unnecessary online bill pay charges, and inflated trash disposal fees.
Guidance on Corporate Mergers
Recognizing the potential negative impact of corporate mergers on workers and consumers, President Biden previously directed the Department of Justice and Federal Trade Commission to provide updated guidance. This guidance, based on the latest economic evidence, will be published on Wednesday.
President Biden’s actions build upon the establishment of the Competition Council two years ago. While inflation is gradually easing, the financial burden on families remains significantly higher than pre-pandemic levels.
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