Harris' price manipulation ban proposal faces criticism from economists, political opponents

(MENAFN) Kamala Harris's recent proposal to ban price gouging as part of her economic agenda has sparked significant debate among economists and analysts, who argue that the measure may be anti-competitive and could potentially harm American consumers rather than benefit them. Announced last week, the proposal includes a broader economic package featuring a USD6,000 tax break for families with newborns and a USD10,000 tax break for first-time homebuyers.

If elected president, Harris pledges to work with Congress to implement what she describes as the first federal ban on food and grocery price gouging. This initiative aims to establish clear regulations to prevent large companies from earning "excessive" profits in the food and grocery sectors and to enhance state and federal authorities' ability to penalize those who violate these rules. Despite its popularity among Harris's Democratic supporters, the proposal has faced backlash from Republican presidential candidate Donald Trump, who criticized it as reminiscent of "Soviet-style price controls."

Supporters of the policy argue that it has been misunderstood and misrepresented. According to reports from various US media outlets, including The Washington Post, the Harris campaign views the proposal as an effort to extend existing state-level price gouging rules to a federal framework. 

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