Members considering federal investigation.
Chairman of the House Subcommittee on Economic and Consumer Policy Representative Raja Krishnamoorthi of Illinois published a series of letters on Tuesday addressed to Tyson Foods, JBS Foods, and National Beef and Seaboard. In them, the house committee asked the companies to explain their recent price increases on beef, pork, and chicken, and requested information and documents to reveal their sources. The Illinois representative suspects that the increases were predatory by nature.
“While some companies may claim that the high prices feeding these outsized profits are explained by higher input costs, earnings data tell a different story,” wrote Representative Krishnamoorthi. “This demonstrates that higher prices consumers are forced to pay for beef, pork, and poultry, are not an inevitable byproduct of market forces in a competitive marketplace.”
The companies in question have until February 8 to turn over the requested documents to the committee.
As the Lord Leads, Pray with Us…
- For the House Subcommittee on Economic and Consumer Policy as they seek answers regarding the price increases on meat.
- For Chairman Krishnamoorthi to seek God’s wisdom as he heads the subcommittee.
- For members of Congress as they work to protect the American public and ensure competition in the marketplace.
Sources: AP, The Hill
