Hi,

Greedy corporations are using inflation as an excuse to jack up prices on consumers.1

Corporations are enjoying record profits while they raise prices on working families who are struggling to keep up with the rising costs of inflation.2 Corporate greed is fueling price increases — and if we want to stop it, we need Congress to start holding corporations accountable.

Sign the petition: Congress should pass the Ending Corporate Greed Act to halt rising prices!

The Federal Reserve has spent months increasing interest rates in its misguided strategy for controlling inflation. This backward approach has only driven the economy closer to a recession while inflation continues to hurt working class Americans. Soaring gas prices helped Chevron raise their profits by 240%.3 Companies from Amazon to Hershey to steel companies to grocery store chains have seen historic profits during this time of increased inflation and corresponding high costs for everyday people.4

While working class people have struggled, CEOs of large corporations like Disney, Blackstone Mortgage, and Unilever have boasted about their pricing power and historic corporate profits.5

We know progressive tax policies can work to help families and rein in corporations — that’s why we need to pass the Ending Corporate Greed Act.

The bill would tax mega corporations a whopping 95% specifically on profits made above their average profits during the five years before the pandemic — in order to discourage price gouging.6 We need Congress to act now to help struggling families and put a check on the out of control profits of these corporations.

Sign our petition urging Congress to stop price gouging corporations with the Ending Corporate Greed Act!

Thanks for taking action,

Tihi and the team at Demand Progress

Sources: 

  1. House Committee on Oversight and Reform, “Subcommittee Analysis Reveals Excessive Corporate Price Hikes Have Hurt Consumers and Fueled Inflation, While Enriching Certain Companies,” November 4, 2022.
  2. Bloomberg News, “US Corporate Profits Soar With Margins at Widest Since 1950” August 25, 2022.
  3. Guardian, “Revealed: top US corporations raising prices on Americans even as profits surge” April 27, 2022.
  4. Ibid.
  5. American Economic Liberties Project, “The Ending Corporate Greed Act is Key in Lowering Corporate Incentives to Price-Gouge” March 25, 2022.
  6. Senator Bernie Sanders, “Summary of the Ending Corporate Greed Act” March 2022.

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