Exclusive: Democrats Urge Biden To Investigate Grocery Store Price-Fixing – By Nik Popli (TIME) / May 13, 2024
A group of Democratic lawmakers are calling on President Joe Biden to investigate grocery store chains for price manipulation, writing in a letter sent Monday morning that he should use executive authority to take additional enforcement action to address rising food prices without the help of Congress.
The letter, shared exclusively with TIME, comes after a report from the Federal Trade Commission (FTC) found that major grocery chains seemed to take advantage of supply chain disruptions during the pandemic to hike up prices to increase their profits. Sen. Elizabeth Warren, a Massachusetts Democrat who led the letter and is one of its signatories, has called for more competition and stronger enforcement of antitrust laws to bring down grocery prices for families—but her proposed legislation on the topic has been largely stalled in Congress.
She’s now hoping that Biden will leverage his executive authority to initiate a thorough investigation into the alleged price-fixing practices of major grocery store chains. “Big food companies want to keep these huge profits and they’re hiring plenty of lobbyists to keep Congress from acting,” Warren tells TIME in an interview. “Congress has stalled out on doing work that it could do to help families lower costs… and the President has the tools to fight back.”
Sens. Richard Blumenthal (D-Conn.), Cory Booker (D-N.J.), Martin Heinrich (D-N. Mex.), Bernie Sanders (I-Vt.), and Peter Welch (I-Vt.) also signed on to the letter requesting Biden’s intervention, along with 35 House Democrats. The lawmakers outlined several proposals in their letter that the Biden Administration could take—from encouraging the FTC to issue guidance on potential violations of price discrimination laws, to creating a joint task force to investigate food price manipulation throughout the supply chain.
CONTINUE > https://time.com/6977026/democrats-biden-executive-authority-grocery-prices/
