US Chamber of Commerce
Inflation is hitting four-decade highs, hurting families, workers, employers, and our economy. Yet, senators continue pushing for a vote on the American Innovation and Choice Online Act that will only raise prices for Americans.
Why it matters: The bill gives the Federal Trade Commission (FTC) and Department of Justice (DOJ) unprecedented new powers to micromanage the economy and dictate whether, when, where, and how certain companies can compete.
But: Nowhere in the bill does it mandate that those powers be used to benefit consumers by lowering prices.
Here are three ways prices could rise.
Prohibit or make it more difficult for some companies to provide store-branded products.
Prohibit or make it more difficult for some companies to provide benefits like free or expedited shipping.
Prohibit targeted companies from providing free ancillary services.
Bottom line: Americans want the government to focus on policies that reduce inflation and the cost of living – not fan the flames. The Senate would be wise to leave this bill on the shelf.
