On CBS’ “Face the Nation” Sunday, Gov. Andy Beshear (D-Ky.) defended Vice President Kamala Harris’ proposal to use federal power to control prices.
The Kentucky Democrat compared the proposal to Theodore Roosevelt-era efforts to break up monopolies.
“The Harris economic plan you mentioned also included a federal ban on food price gouging and penalties for companies that exploit the crisis,” host Margaret Brennan said. “President Obama’s chief economist, Jason Furman, was critical, saying, ‘The good case is that price gouging is a message, not a reality. The bad case is that this is a real proposal. You end up risking growing shortages, reduced supply, ultimately higher prices and bad outcomes for consumers.’ You know how this works?”
“I know this because I’ve been attorney general as well as vice president,” Beshear said. “I pursued and won cases against price gouging and violations when it came to gas prices in Kentucky, and ultimately returned millions of dollars to residents. This is not an attempt to fix prices. It’s just making sure our economy is functioning the way it should. This is really about supply and demand, which we all respect. This is no different than how President Teddy Roosevelt broke up monopolies. We’re just making sure we have the right regulations and tools in place to make sure everyone can play the game fairly and by the rules.”
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