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WASHINGTON, DC — Today, the U.S. Department of Labor reported nearly 303,000 new jobs created in March, but corporate price-gouging and greed-driven inflation continue to keep prices artificially high and prevent everyday Americans from feeling the benefits of a strong economy.

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Our economy is strong, but American families are still being price-gouged by corporations raking in record profits at their expense. The Biden administration’s efforts to ban junk fees and crack down on profiteering are essential to ensure economic growth benefits everyone, rather than just a handful of wealthy corporate CEOs at the top.”

Accountable.US’ Liz Zelnick

Corporate profits have exploded since 2020, driving more than 33% of inflation since the start of the pandemic. In the final three months of 2023, corporate profits reached an all-time high of $2.8 trillion. A national survey commissioned by government watchdog Accountable.US found that many Americans believe excessive corporate price hikes are a major driver of inflation and higher costs. 60% of those polled also agreed that “crack[ing] down on price gouging by banning hidden junk fees  would be effective at lowering costs.”

 

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