Bowman Unveils Bill to Allow Biden to Identify Profiteering and Regulate Prices

Amid soaring inflation and record corporate profits, progressive Rep. Jamaal Bowman (D-New York) unveiled a bill on Thursday aimed at combating the increasing costs for expenses ranging from housing to gas. The Emergency Price Stabilization Act would create a sub-task force within the White House to monitor price raises and corporate profiteering, potentially making recommendations to the president to regulate and moderate prices in food, energy, housing, health care and transportation. The group would have subpoena power over corporations’ financial records in order to determine if companies are raising prices for profit or out of necessity. “From impossible rents and…

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