California is too expensive. That’s a fact. As a single mom of three school-aged kids, I know rising costs are squeezing families. Yet while essentials like rent, groceries, and health care continue to skyrocket in price, big corporations are raking in the cash, with recent profit margins hitting a 70-year high. The federal government must rethink how it invests in our communities to bring costs down permanently and hold companies accountable when they price gouge consumers.
To unrig the American economy, once and for all, we will have to make historic investments in housing, climate action, education, and health care and take on the corporate consolidation that’s leading to higher consumer prices. With millions of California families living paycheck to paycheck, the federal government must act to alleviate our state’s growing affordability crisis.
We need to crack down on corporate monopolies and encourage competition. Competition is critical to a healthy capitalist economy. Data shows that giant corporations – from major grocers to mega department store chains to health giants – are hiking prices on essential goods to boost profits. They’re getting away with it because they dominate their respective markets and don’t have to compete for consumers. We can lower consumer prices and better protect workers by making it easier for smaller businesses to compete, including by strengthening antitrust laws and enforcing those already on the books. We must also crack down on giant corporations coordinating price hikes and hold companies accountable for overcharging.