![Jamaal Bowman](https://www.commondreams.org/media-library/jamaal-bowman.jpg?id=32135732&width=1200&height=400&quality=90&coordinates=0%2C125%2C0%2C1074)
Rep. Jamaal Bowman (D-N.Y.) speaks at the National Action Network's annual national convention on April 7, 2022 in New York City. (Photo: Spencer Platt/Getty Images)
To donate by check, phone, or other method, see our More Ways to Give page.
Rep. Jamaal Bowman (D-N.Y.) speaks at the National Action Network's annual national convention on April 7, 2022 in New York City. (Photo: Spencer Platt/Getty Images)
Stressing the need for a "new economic playbook" that prioritizes human needs over corporate greed, U.S. Rep. Jamaal Bowman on Thursday introduced proposed legislation that would tackle excessive profiteering with targeted price controls.
"In my district and across the country, people simply cannot afford to live."
"In my district and across the country, people simply cannot afford to live," the New York Democract said in a statement introducing the Emergency Price Stabilization Act. "From impossible rents and utility bills to soaring costs for food, healthcare, and other necessities of life, people in America are being crushed by the burden of high prices and wages that can't keep pace."
Bowman asserted that "we must move with greater speed and agility to protect our constituents from price shocks and corporate profiteering. The Emergency Price Stabilization Act will do exactly that--first, by getting to the bottom of what is driving price increases in key sectors, and second, by designing targeted controls and regulations to rein in those prices."
\u201cPeople cannot afford to live in America today, and our government needs better tools to respond. Economic orthodoxy has left a lot to be desired. Read more about my new bill here \u2935\ufe0f https://t.co/aiHSTO4xII\u201d— Jamaal Bowman Ed.D (@Jamaal Bowman Ed.D) 1659632158
If passed by Congress and signed into law by President Joe Biden, Bowman's bill would:
"At every step of the way, we will mobilize and engage the public in the process," said Bowman. "We cannot simply step back and allow the Federal Reserve, which hiked interest rates again last week, to address inflation on the backs of everyday people. That approach means throwing people out of work and risking a recession."
"Here is the question we must ask: Do we have the resources and skills to reach our full productive capacity, make sure everyone in this country has a good job, and manage our economy in the interests of all people? I believe the answer is yes," he added. "But we'll need a new economic playbook to get there, and passing my Emergency Price Stabilization Act would be a major step in the right direction."
Original co-sponsors of Bowman's bill include Democratic Reps. Cori Bush (Mo.), Steve Cohen (Tenn.), Danny K. Davis (Ill.), Jesus G. "Chuy" Garcia (Ill.), Eleanor Holmes Norton (D.C.), Hank Johnson (Ga.), Mondaire Jones (N.Y.), Barbara Lee (Calif.), Jerrold Nadler (N.Y.), Alexandria Ocasio-Cortez (N.Y.), Donald M. Payne Jr. (N.J.), Ayanna Pressley (Mass.), Jan Schakowsky (Ill.), Mark Takano (Calif.), Rashida Tlaib (Mich.), and Bonnie Watson Coleman (N.J.).
Related Content
Dozens of advocacy groups also support the proposed legislation.
Food & Water Watch executive director Wenonah Hauter said that "though Wall Street tycoons would have us believe otherwise, retail prices for essential goods like food and energy are not set by simple supply and demand. They are egregiously manipulated by corporate giants that have achieved monopoly-level dominance over their markets."
"Setting reasonable maximum prices for everyday needs would reduce out-of-pocket costs to consumers while curbing excessive profiteering by opportunistic corporations," she added. "This commonsense legislation is needed more than ever."
\u201cCCP is proud to join @RepBowman in support of the Emergency Price Stabilization Act. People across the country are struggling to make rent and to afford the basic necessities of life. Our government must develop better tools to help. #stabilizeprices\u201d— Climate and Community Project (@Climate and Community Project) 1659637561
Diane Yentel, president and CEO of the National Low Income Housing Coalition, said in a statement that "even before the pandemic, millions of America's lowest-income and most marginalized households were struggling to keep roofs over their heads, always just one financial shock away from falling behind on rent and being threatened with eviction, and in the worst cases, homelessness."
"Today, these same households are facing new threats with historic levels of inflation and skyrocketing rents," she added. "Just as some states have in place laws to prevent price or rent gouging after natural disasters, Congress should consider similar protections like those included in the Emergency Price Stabilization Act for renters coming out of a global pandemic."
The world is a pretty dark place right now. Economic inequality off the charts. The climate emergency. Supreme Court corruption in the U.S. and corporate capture worldwide. Democracy in many nations coming apart at the seams. Fascism threatens. It’s enough to make you wish for some powerful being to come along and save us. But the truth is this: no heroes are coming to save us. The only path to real and progressive change is when well-informed, well-intentioned people—fed up with being kicked around by the rich, the powerful, and the wicked—get organized and fight for the better world we all deserve. That’s why we created Common Dreams. We cover the issues that corporate media never will and lift up voices others would rather keep silent. But this people-powered media model can only survive with the support of readers like you. Can you join with us and donate right now to Common Dreams’ Mid-Year Campaign? |
Stressing the need for a "new economic playbook" that prioritizes human needs over corporate greed, U.S. Rep. Jamaal Bowman on Thursday introduced proposed legislation that would tackle excessive profiteering with targeted price controls.
"In my district and across the country, people simply cannot afford to live."
"In my district and across the country, people simply cannot afford to live," the New York Democract said in a statement introducing the Emergency Price Stabilization Act. "From impossible rents and utility bills to soaring costs for food, healthcare, and other necessities of life, people in America are being crushed by the burden of high prices and wages that can't keep pace."
Bowman asserted that "we must move with greater speed and agility to protect our constituents from price shocks and corporate profiteering. The Emergency Price Stabilization Act will do exactly that--first, by getting to the bottom of what is driving price increases in key sectors, and second, by designing targeted controls and regulations to rein in those prices."
\u201cPeople cannot afford to live in America today, and our government needs better tools to respond. Economic orthodoxy has left a lot to be desired. Read more about my new bill here \u2935\ufe0f https://t.co/aiHSTO4xII\u201d— Jamaal Bowman Ed.D (@Jamaal Bowman Ed.D) 1659632158
If passed by Congress and signed into law by President Joe Biden, Bowman's bill would:
"At every step of the way, we will mobilize and engage the public in the process," said Bowman. "We cannot simply step back and allow the Federal Reserve, which hiked interest rates again last week, to address inflation on the backs of everyday people. That approach means throwing people out of work and risking a recession."
"Here is the question we must ask: Do we have the resources and skills to reach our full productive capacity, make sure everyone in this country has a good job, and manage our economy in the interests of all people? I believe the answer is yes," he added. "But we'll need a new economic playbook to get there, and passing my Emergency Price Stabilization Act would be a major step in the right direction."
Original co-sponsors of Bowman's bill include Democratic Reps. Cori Bush (Mo.), Steve Cohen (Tenn.), Danny K. Davis (Ill.), Jesus G. "Chuy" Garcia (Ill.), Eleanor Holmes Norton (D.C.), Hank Johnson (Ga.), Mondaire Jones (N.Y.), Barbara Lee (Calif.), Jerrold Nadler (N.Y.), Alexandria Ocasio-Cortez (N.Y.), Donald M. Payne Jr. (N.J.), Ayanna Pressley (Mass.), Jan Schakowsky (Ill.), Mark Takano (Calif.), Rashida Tlaib (Mich.), and Bonnie Watson Coleman (N.J.).
Related Content
Dozens of advocacy groups also support the proposed legislation.
Food & Water Watch executive director Wenonah Hauter said that "though Wall Street tycoons would have us believe otherwise, retail prices for essential goods like food and energy are not set by simple supply and demand. They are egregiously manipulated by corporate giants that have achieved monopoly-level dominance over their markets."
"Setting reasonable maximum prices for everyday needs would reduce out-of-pocket costs to consumers while curbing excessive profiteering by opportunistic corporations," she added. "This commonsense legislation is needed more than ever."
\u201cCCP is proud to join @RepBowman in support of the Emergency Price Stabilization Act. People across the country are struggling to make rent and to afford the basic necessities of life. Our government must develop better tools to help. #stabilizeprices\u201d— Climate and Community Project (@Climate and Community Project) 1659637561
Diane Yentel, president and CEO of the National Low Income Housing Coalition, said in a statement that "even before the pandemic, millions of America's lowest-income and most marginalized households were struggling to keep roofs over their heads, always just one financial shock away from falling behind on rent and being threatened with eviction, and in the worst cases, homelessness."
"Today, these same households are facing new threats with historic levels of inflation and skyrocketing rents," she added. "Just as some states have in place laws to prevent price or rent gouging after natural disasters, Congress should consider similar protections like those included in the Emergency Price Stabilization Act for renters coming out of a global pandemic."
Stressing the need for a "new economic playbook" that prioritizes human needs over corporate greed, U.S. Rep. Jamaal Bowman on Thursday introduced proposed legislation that would tackle excessive profiteering with targeted price controls.
"In my district and across the country, people simply cannot afford to live."
"In my district and across the country, people simply cannot afford to live," the New York Democract said in a statement introducing the Emergency Price Stabilization Act. "From impossible rents and utility bills to soaring costs for food, healthcare, and other necessities of life, people in America are being crushed by the burden of high prices and wages that can't keep pace."
Bowman asserted that "we must move with greater speed and agility to protect our constituents from price shocks and corporate profiteering. The Emergency Price Stabilization Act will do exactly that--first, by getting to the bottom of what is driving price increases in key sectors, and second, by designing targeted controls and regulations to rein in those prices."
\u201cPeople cannot afford to live in America today, and our government needs better tools to respond. Economic orthodoxy has left a lot to be desired. Read more about my new bill here \u2935\ufe0f https://t.co/aiHSTO4xII\u201d— Jamaal Bowman Ed.D (@Jamaal Bowman Ed.D) 1659632158
If passed by Congress and signed into law by President Joe Biden, Bowman's bill would:
"At every step of the way, we will mobilize and engage the public in the process," said Bowman. "We cannot simply step back and allow the Federal Reserve, which hiked interest rates again last week, to address inflation on the backs of everyday people. That approach means throwing people out of work and risking a recession."
"Here is the question we must ask: Do we have the resources and skills to reach our full productive capacity, make sure everyone in this country has a good job, and manage our economy in the interests of all people? I believe the answer is yes," he added. "But we'll need a new economic playbook to get there, and passing my Emergency Price Stabilization Act would be a major step in the right direction."
Original co-sponsors of Bowman's bill include Democratic Reps. Cori Bush (Mo.), Steve Cohen (Tenn.), Danny K. Davis (Ill.), Jesus G. "Chuy" Garcia (Ill.), Eleanor Holmes Norton (D.C.), Hank Johnson (Ga.), Mondaire Jones (N.Y.), Barbara Lee (Calif.), Jerrold Nadler (N.Y.), Alexandria Ocasio-Cortez (N.Y.), Donald M. Payne Jr. (N.J.), Ayanna Pressley (Mass.), Jan Schakowsky (Ill.), Mark Takano (Calif.), Rashida Tlaib (Mich.), and Bonnie Watson Coleman (N.J.).
Related Content
Dozens of advocacy groups also support the proposed legislation.
Food & Water Watch executive director Wenonah Hauter said that "though Wall Street tycoons would have us believe otherwise, retail prices for essential goods like food and energy are not set by simple supply and demand. They are egregiously manipulated by corporate giants that have achieved monopoly-level dominance over their markets."
"Setting reasonable maximum prices for everyday needs would reduce out-of-pocket costs to consumers while curbing excessive profiteering by opportunistic corporations," she added. "This commonsense legislation is needed more than ever."
\u201cCCP is proud to join @RepBowman in support of the Emergency Price Stabilization Act. People across the country are struggling to make rent and to afford the basic necessities of life. Our government must develop better tools to help. #stabilizeprices\u201d— Climate and Community Project (@Climate and Community Project) 1659637561
Diane Yentel, president and CEO of the National Low Income Housing Coalition, said in a statement that "even before the pandemic, millions of America's lowest-income and most marginalized households were struggling to keep roofs over their heads, always just one financial shock away from falling behind on rent and being threatened with eviction, and in the worst cases, homelessness."
"Today, these same households are facing new threats with historic levels of inflation and skyrocketing rents," she added. "Just as some states have in place laws to prevent price or rent gouging after natural disasters, Congress should consider similar protections like those included in the Emergency Price Stabilization Act for renters coming out of a global pandemic."