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Leonard, like most American families, my kids and I have had to adjust to rising food prices. No bacon with breakfast, homemade granola instead of the fancy bagged kind.
Big corporations are using their power to price-gouge people at the grocery store, and it’s a real problem that Congress must address.
- Just four companies control 85% of meat and poultry processing.
- Just three companies control 80% of the pasta market.
- A large meat company saw recent income increases of almost 350%.
- The average CEO to worker pay ratio is 23% greater than it was in 2019, with CEOs making 324x more than the average worker.
Meanwhile, in the last election cycle, the food industry spent $175 million on political contributions—
6x more than they spent two decades ago.
About two thirds of the $175 million went to Republicans.
It’s time that Congress steps up and cracks down on corporate greed. We need to boost an rust enforcement and make it easier for small businesses to compete.
-- Katie Porter emaill
BLS: Inflation in Price of Food Highest Since 1979
