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Washington Governor Bob Ferguson signed a bill Wednesday that set limits on rent increases—one of the first in the country. Rent stabilization bill, HB 1217, caps rent increases at 7% plus inflation, or 10%—whichever is lower. Washington now joins Oregon and California in drafting legislation that curbs climbing rent prices. “There is no single policy that will fix our housing crisis, but we need this comprehensive approach,” Sen. Emily Alvarado said at the bill signing.

President Donald Trump plans to revive an effort to dramatically slash drug costs by tying the amount the government pays for some medicines to lower prices abroad, three people familiar with the matter told POLITICO. Trump early next week is expected to sign an executive order directing aides to pursue the initiative, called “most favored nation,” for a selection of drugs within the Medicare program. The idea would use the administration’s authorities to force prices down. The proposal has not been finalized and could still change as aides work through the specifics, said the people involved in the plan, who...

A federal judge threw out a U.S. Consumer Financial Protection Bureau (CFPB) rule Tuesday that capped all credit card late fees at $8. U.S. District Judge Mark Pittman of the U.S. District Court for the Northern District of Texas approved a joint motion from a coalition of six business and banking groups, including the American Bankers Association (ABA) and the CFPB to scrap the rule, which was established last year. The ABA and the U.S. Chamber of Commerce were among the plaintiffs that challenged the rule in U.S. District Court for Northern Texas, arguing the bureau exceeded its statutory authority....

Price and wage fixing is always harmful. There is no right way of doing it. There is no right way of doing a wrong thing. There is no fair way of doing something that oughtn’t be done at all. We can’t even define a fair price or a fair profit or a fair wage apart from the market or apart from the state of supply and demand. Instead of talking about “fair” prices, “fair” profits, and “fair” wages, we ought to be talking about functional wages, functional prices, and functional profits. Prices have work to do. What they do in...

Axios’ Alex Thompson framed Vice President Kamala Harris on Sunday as the “no comment” candidate she “doesn’t want voters to know.” Harris has refused to detail her policy positions on many important issues. This lack of answers appears to be a strategy to avoid irritating the radical left while trying to remain ambiguous in order to attract moderates. The latest example of Harris refusing to answer questions came Sunday when a reporter asked her about a California ballot measure on crime. “How did you vote on Prop 36?” a reporter in Detroit asked Harris. “So, I have — my ballot...

The governor’s order does not state how much Californians might save on their bills each month once the measures are enacted. California Gov. Gavin Newsom signed an executive order on Oct. 30 aimed at reducing electricity prices for Californians, which are the second-highest in the country, and directed state agencies to find ways to lower costs. Newsom’s office said in a statement that the executive action “encourages electric bill relief” while also maintaining the state’s commitment to achieving carbon neutrality and “100% clean electricity” by 2045. “We’re taking action to address rising electricity costs and save consumers money on their...

Short on the heels of another major refinery closure, Valero signaled it is considering closing its two California refineries that produce over 14% of the state’s gasoline. Refinery closures already have the state importing 8% of its gasoline supply, which means the state could soon have to significantly increase its imports of refined products such as gasoline, on top of its existing reliance on the Middle East and South America for the majority of its crude oil. Valero announced its profit is down significantly due to very low margins from its refinery business, prompting a question during its earning call...

During a town hall on CNN on Wednesday, 2024 Democratic presidential candidate Vice President Kamala Harris responded to a question on how her plan to combat “price gouging” on groceries “during emergencies or times of crisis” would help with the fact that grocery prices have just been high every day for years by stating that there should be accountability “when companies are taking advantage of the desperation and the need of the American people,” and stating that “most” companies don’t gouge. Host Anderson Cooper asked, “I looked at your plan. You talk about going after price gougers, and I’m quoting...

During a portion of an interview with NBC News Senior Washington Correspondent Hallie Jackson that was aired on Tuesday’s broadcast of “NBC Nightly News,” 2024 Democratic presidential candidate Vice President Kamala Harris said that she thinks the federal minimum wage should be “at least $15 an hour.” But she’ll work with Congress on the issue since the issue will go through Congress. During a report on her interview with Harris, Jackson said, “And on the campaign trail, she criticized former President Trump on minimum wage after he avoided saying whether it should be raised while campaigning at a McDonald’s.” Jackson...

Meanwhile in the Democrat hellhole of California… California’s Democrat Governor Gavin Newsom signed a bill to hold Big Oil accountable – only it will lead to gas shortages and price hikes. Big Oil “has been screwing you for decades,” Newsom said. “Price spikes have cost Californians billions of dollars over the years, and we’re not waiting around for the industry to do the right thing,” Newsom said. “We’re taking action to prevent these price spikes and save consumers money at the pump,” he said. The bill passed the California Assembly last week with a 41-16 vote. Many Democrats did not...

Gov. Gavin Newsom had a dire warning for California this week: “Big oil companies are in cahoots with Donald Trump pushing prices even higher during election season.”

California Gov. Gavin Newsom (D) signed another law Monday, claiming to be taking action against gas prices but without lowering taxes, removing the state’s onerous “cap-and-trade” system, or easing regulations on refineries. Those are the factors that the industry, and independent experts, say are the main contributors to the fact that the Golden State pays an average price of $4.677 per gallon, the highest in the nation, well above the average of $3.203. Instead, Newsom has again blamed the oil and gas industry, as in previous years. The new law, which he pushed through in a special legislative session, requires...

Vice President Kamala Harris has centered her anti-inflation agenda on combatting price gouging, saying corporations are greedy villains padding profits by jacking up prices.Yet economists and even Ms. Harris say there is scant evidence that price gouging is actually happening.In a plan largely lacking concrete details, Ms. Harris has called for a federal ban on price gouging and for giving the Federal Trade Commission the power to prosecute companies it deems to have excessively increased prices.Former President Donald Trump and Republicans slammed the plan as “communist,” warning that it would lead to the federal government telling businesses how to set...

Vice President Kamala Harris struggled in a friendly interview that airs this week to competently answer questions surrounding her economic agenda. Harris sat down for an interview with CBS News’ “60 Minutes” that was taped last week and is set to air on Monday night as part of a special election episode. “My plan is about saying that when you invest in small businesses, you invest in the middle class, and you strengthen America’s economy,” Harris told correspondent Bill Whitaker. “Small businesses are part of the backbone of America’s economy.” “But pardon me, Madam Vice President, the question was, how...

Harris and this article state that the rich don't pay their fair share? Really? First, who determines what a fair share is? Fact is, there is no objective measure of fair share. Perhaps the fairest measure is that everyone pays the same rate as a percentage of income. Friedman suggested 17%, so if you make $100000/yr, you pay $17,000. If you make a million dollars a year, you pay $170,000. But, that's not how it works.The top 1 percent paid a greater share of individual income taxes (38.8 percent) than the bottom 90 percent combined (29.2 percent).The top 50 percent...

None of this, however, is stopping Governor Gavin Newsom, who has dragged a handful of legislators back to the Capitol for a special session on alleged price gouging by California’s oil refineries. In a press release on September 3, the governor claimed that “Gas price spikes on consumers are profit spikes for oil companies, and they’re overwhelmingly caused by refiners not backfilling supplies when they go down for maintenance.” To prevent these alleged misdeeds, the governor proposes to require California’s refineries to stockpile reserves of gasoline to meet demand whenever refineries are not operating. In addition to mandatory storage, the...

LOS ANGELES, California — Gov. Gavin Newsom (D) traveled to Baldwin Hills to sign legislation restricting oil and gas facilities — and removing the pumpjacks behind him, ending a century of the oil and industry’s role in the area. AB 2716 will close the Baldwin Hills oil facilities, which existed prior to the surrounding area becoming developed for residential use, but which now sit inside what has become L.A.’s most prominent middle-class black neighborhood. AB 3233 will give local authorities more power to prohibit oil and gas drilling. AB 1866 will expand on existing law and increase and accelerate the...

Time stamps: 1:05 - First Policy 2:12 - Basics of Understanding the first policy 3:27 - Implications of the first policy 5:27 - Second Policy 7:50 - Third Policy sorry for the late upload, I've been fighting for my life out here for real ... so much work lately Tags: Kamala Harris, Donald Trump, Debate, CPA, Certified Public Accountant, Radical Financial Policies, Tax, Price Controls, Unrealized capital gains tax

Vice presidential candidate Sen. JD Vance (R-OH) said Thursday on CNBC’s “Squawk Box” that Vice President Kamala Harris’s main thrust of her economic policy is to “throw everybody on welfare.” Co-host Joe Kernen said, “Given that as we now know, people’s economic beliefs can evolve, as we’ve seen maybe from, you know, former President Trump’s opponent, but I’m wondering whether yours have evolved? Because then we’ll get into some of the things you said in the part and how much daylight right now is there between what you believe and what would I call you an economic populist? Is there...

Are greedy corporations to blame for inflation? Ariane Navarro thinks so. She recently pulled up her budgeting spreadsheets from 2021 and was shocked by how much her family's grocery bill has skyrocketed. She's not imagining it: From February 2020 to this July, grocery prices grew a cumulative 25.6%. That's higher than overall inflation, which was 21.6% during that same period. "We have no other choice — we have to buy groceries," says Navarro, who lives in Houston. "That's a basic need. And so [companies] use that to kind of take advantage and keep raising prices." It's a widespread sentiment —...