'It is unacceptable that certain companies and industries are engaged in extreme price hikes under the cover of inflation,' said CongressmanRaja as his subcommittee released a new analysis.
Rep. Raja Krishnamoorthi , the subcommittee chair,in a statement that"today's analysis reaffirms what an overwhelming 80% majority of Americans already recognize according to a recent poll: Under the guise of inflation, certain corporations excessively hiked prices far beyond what their costs necessitated, further driving inflation."
"It is unacceptable that certain companies and industries are engaged in extreme price hikes under the cover of inflation," he declared."Americans understand this is happening, and they want it to stop. We have an obligation in Congress to shine light on this practice, which is exactly what today’s analysis does."
Four of the 10 largest public companies by market cap in the oil and gas industry had profits rise by 62%. The report also points out that"recent economic studies make clear that record corporate markups, profits, and profit margins contributed to—and continue to contribute to—ongoing Inflation."
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Saskatoon Public Schools Foundation receives two \u0022extraordinary\u0022 donationsThis year\u0027s Tim Hortons Smile Cookie Campaign resulted in a donation of $139,898, while Canpotex is contributing $225,000 over three years.
Read more »
Senate Report Details 'Latest Privatized Medicare Scandal' as Seniors Preyed Upon and Duped'It is unacceptable for this magnitude of fraudsters and scam artists to be running amok in Medicare,' says Sen. RonWyden as a new report exposes how Medicare Advantage plan vendors are preying upon seniors with false and misleading claims.
Read more »
Snowden Says Shut Down DHS After Report Revealed Secretive Effort to Police Online SpeechThe NSA whistleblower said creating the Department of Homeland Security \u0022was always a mistake,\u0022 but \u0022its plan to become the Speech Police is the final straw.\u0022
Read more »
Help Wanted: Why aren't more Sask. workers headed into the trades?\u0022I have a dream ticket,\u0022 says millwright Nishell Selinger. \u0022I can work anywhere in Canada.\u0022
Read more »
Global South Faces More 'Climate Carnage' Without Surge in Adaptation Funding\u0022Climate change is landing blow after blow upon humanity, as we saw throughout 2022,\u0022 said one U.N. expert. \u0022We must get serious about adapting to climate change, and we must do it now.\u0022
Read more »
Watchdog Group Vows 14th Amendment Challenge If Trump Runs in 2024\u0022If you seek elected or appointed office despite being constitutionally disqualified under Section 3 of the 14th Amendment for engaging in insurrection,\u0022 states a letter to the former president, \u0022we and others loyal to the Constitution will defend it.\u0022
Read more »