WASHINGTON, D.C. – In case you missed it, yesterday, Senator Rick Scott released the below statement following reports that Vice President Kamala Harris is proposing federal price controls to combat the historic inflation caused by the Biden-Harris administration’s failed policies, reckless government spending and total war on U.S. energy. Federal price controls are a dangerous and radical policy that will cause tremendous harm to American families and businesses, which is why the Federal Reserve Bank of St. Louis published a report in 2022 titled, “Why Price Controls Should Stay in the History Books.”

Senator Rick Scott, “Tomorrow, Vice President Harris, a person who has never built a business, doesn’t understand profit and loss, has never met payrolls, and who has never competed in a consumer market, is going to propose federal price controls. That should terrify every American. She claims that Congress needs to ban ‘price gouging,’ which is already widely illegal and not the cause of high prices. The skyrocketing prices created by the Biden-Harris administration aren’t price-gouging, it’s inflation. Her solution to the Harris Price Hikes she caused is big government on steroids—where Washington bureaucrats stick their hands into American businesses and say what they can and can’t sell a product for. It never works because it causes companies to make much less of something—destroying supply and causing a mass shortage of goods. One day in a middle school economics class would teach her those basic principles. Unfortunately, it’s not surprising to see such a dangerous and clearly flawed proposal come from a career politician who has never run a business. 

“Getting inflation under control will happen when the federal government stops recklessly spending money it doesn’t have, and we finally beat back the destructive war that the Biden-Harris administration has waged on U.S. energy which has made the cost of everything go up.”

Since being elected to the U.S. Senate, Senator Scott has repeatedly urged action to address America’s debt crisis and the harmful effects of inflation. Click HERE for a comprehensive list of his statements and actions on this urgent issue and HERE for Senator Scott’s Quarterly Economic Snapshot.

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