Harris’s proposal for a federal ban on price gouging in food and groceries, which would empower the Federal Trade Commission (FTC) and state attorneys general to punish companies for excessive pricing, is seen by some as a heavy-handed approach that could backfire.
Critics point out that defining what constitutes “price gouging” is inherently challenging, with enforcement likely to be difficult.
Michael Sinkinson, an economist at Northwestern University and former Biden White House advisor, suggests that promoting healthy competition and price transparency would be more effective in controlling grocery prices.
2024 Presidential Campaign
Neither candidate has provided detailed explanations of how they would finance their ambitious plans.
The Committee for a Responsible Federal Budget estimates that Trump’s proposal to eliminate taxes on Social Security benefits would accelerate the depletion of the program’s trust fund and increase the federal deficit by $1.6 trillion over a decade.
Similarly, Harris’s proposals to expand the child tax credit, earned-income tax credit, and health-insurance subsidies, along with her support for housing initiatives, could result in a $1.7 trillion hit to the deficit.
