Washington, D.C. — Following passage in Congress of President Biden’s widely popular, cost-lowering, deficit-reducing, corporate greed containing Inflation Reduction Act over the objection of all Congressional conservatives, government watchdog Accountable.US released the following statement: 

Across industries, highly profitable corporations that pay virtually nothing in taxes and gifted, wealthy investors with billions of dollars in handouts had the ability to stabilize prices for everyday families—but most chose to profiteer. The President and Congress took a big step forward in cracking down on corporate greed, bringing down prices, and making rich corporate interests finally pay their fair share. The Congressional conservatives that obstructed made their own choice – choosing to keep prices sky high for struggling seniors and families to appease their tax-evading industry donors. These lawmakers have never missed an opportunity to blame the President for inflation challenges yet have desperately tried to block every effort to do something about it. Putting American families above special interests will always be best for the economy and our country.”

Liz Zelnick, Accountable.US spokesperson

For months, Accountable.US has documented extensively how corporate greed has been a primary driver of rising prices, evidenced by corporations’ own public filings showing record high profits and billions of dollars in new giveaways to a small group of wealthy investors and executives. The watchdog has identified gross profiteering from industries including big oil, meat packing, shipping, retail, clothing, food, trucking, and railroad companies that have made inflation and supply chain problems worse for everyday consumers. Corporate interests have only compounded the problem by rewarding those in Congress who obstruct every commonsense measure to rein in this greedy behavior and bring down costs. 

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