Groundwork’s Lindsay Owens Praises Creation of New White House Strike Force on Illegal and Unfair Pricing

March 5, 2024

Groundwork’s Lindsay Owens Praises Creation of New White House Strike Force on Illegal and Unfair Pricing

Today, President Biden announced a new, multi-agency task force focused on lowering costs for families, known as the “Strike Force on Illegal and Unfair Pricing.” Groundwork Collaborative Executive Director Lindsay Owens reacted with the following statement:

“Under the cover of inflation and by exercising their substantial pricing power, corporations are using tricks, traps, and outright fraud to reap record profits. Today this stops.

“President Biden’s new task force is a welcome sight for consumers and bad news for the corporate profiteers.”

Email press@groundworkcollaborative.org to speak with one of Groundwork’s experts about the role illegal and unfair pricing has played in our economy.

Background

Studies by Groundwork have found that corporations have raised or kept prices high, even as the cost of many inputs have come down. They’ve earned record profits during this period.

Source: Bureau of Economic Analysis, National Income and Products Accounts, Table 1.15, Author’s Calculations