Lawmaker who owns grocery chain issues grim warning over Harris' price control plan: 'Reckless'

Published On Sep 3, 2024, 2:32 AM

Rep. Michael Rulli from Ohio has raised concerns over Vice President Kamala Harris's proposal for price controls on groceries, warning that it could severely limit consumer choices in the U.S. Rulli fears that such a policy could lead to consequences similar to those seen in communist countries, resulting in fewer grocery options and higher prices in the long run. He argues that if price controls are enforced, manufacturers might stop producing certain products due to increased production costs, which would ultimately harm consumers and reduce the standard of living for working families.

Stock Forecasts

The proposal for price controls could lead to significant disruptions in the grocery supply chain, resulting in product shortages and limited choices for consumers. This situation may put pressure on grocery retailers' stock prices as potential profits are squeezed. Companies often react negatively to government regulations that hamper their pricing power.

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Rep. Michael Rulli, R-Ohio, says that Kamala Harris' price fixing plan will hurt the American family as he likens the vice president's agenda to communism.