Watchdog on GDP: Corporate Greed Shares Blame For Economic Slowdown and All Eyes on Congress to Rein It In

Sky-high inflation is a major contributor to the economic slowdown, and nothing is driving up costs more on everyday families than corporate greed. Across industries, we’ve seen major corporations continue to post record high profits and approve billions of dollars in shareholder giveaways while disingenuously claiming to have no choice but to raise prices so high. As everyday Americans are getting squeezed, Fortune 500 c-suite executives are doing better than ever, averaging over $18 million in compensation while their workers’ wages have severely lagged behind.

Reining in corporate greed is the key to bringing down costs for families and kickstarting economic growth, and fortunately Congress has the opportunity to do it. Passing the Inflation Reduction Act will ensure corporations will finally begin to pay their fair share in taxes. This bill will put billions of dollars more into the pockets of Americans by reducing the leverage big oil, health insurance and drug companies have to charge whatever they please – all while creating thousands of new jobs. Congress must not squander the best opportunity they may have for years to create an economy that works for everyone, not just billionaires and greedy corporations.”