WASHINGTON, D.C. — Today, in advance of the White House’s Competition Council meeting to announce the launch of a strike force on pricing, U.S. Chamber of Commerce Executive Vice President, Chief Policy Officer, and Head of Strategic Advocacy Neil Bradley issued the following statement.
"This strike force is an attempt to return to the failed policy of government price controls which President Nixon tried fifty years ago — literally declaring that the government would set the price of meat. The result was predictable: shortages leading to empty shelves and long lines and a decade of high inflation and economic stagnation. This effort by the Biden Administration to use regulatory agencies to micromanage how private businesses set prices will have the same result: shortages, fewer choices for consumers, a weaker economy, and less jobs.
"To make matters worse, the strike force will be led by two agencies that, for the past three years, have been openly hostile to market efficiencies — blatantly ignoring lower prices and better outcomes for consumers.
"The U.S. Chamber continues to lead the charge in pushing back against these harmful and counterproductive policies, including today’s Consumer Financial Protection Bureau credit card late fees rule, that limits access to affordable consumer credit."
