The White House announced that President Biden will be launching a strike force to go after corporations that illegally hike prices on prescription drugs, food, housing and groceries.
The White House said in a fact sheet:
President Biden will launch a new Strike Force to crack down on unfair and illegal pricing. President Biden is committed to making sure corporations are held accountable when they try to rip off Americans, including when they break the law while keeping prices high.
To that end, the President is establishing a new Strike Force on Unfair and Illegal Pricing co-chaired by the Department of Justice (DOJ) and the Federal Trade Commission (FTC). This Strike Force will strengthen interagency efforts to root out and stop illegal corporate behavior that hikes prices on American families through anti-competitive, unfair, deceptive, or fraudulent business practices. DOJ and FTC, along with other agencies on the Strike Force, will focus their collaborative efforts on key sectors where corporations may be violating the law and keeping prices high, including prescription drugs and health care, food and grocery, housing, financial services, and more.
The pandemic is over, but corporations continue to keep prices high and reap record profits. Biden has called on corporations to end this behavior. They refused to listen, so now he is going to amp up criminal enforcement.
The latest White House action is an example of why who the president is matters.
A Republican president would not take on corporate greed, but when he was president, Donald Trump encouraged it. Presidents have the power to help people in big and small ways, and how they choose to use or not use that power can impact millions of lives.
People should not lump Biden and Trump together.
They are not the same.
Biden is whether you agree with him or not, trying to work for the American people. Trump views the presidency as a vehicle for himself.
It was a key contrast between the candidates in 2020, and it remains even more stark in 2024.
