Battling Price Gouging: Protecting Minnesotans from Corporate Predators
Minnesotans are known for our strong work ethic and resilience. But lately, it seems like the rich are getting richer and leaving many of us behind.
Profits have hit all-time record highs for corporate giants and wealthy executives like Jeff Bezos as they keep jacking up prices on us to line their pockets. And to add insult to injury, some legislators are constantly working to rig the rules in their favor even more by trying to weaken consumer protections meant to level the playing field.
It doesn't have to be this way. We need leaders who are willing to stand up to corporate greed and fight for Minnesota families. See where House members stood on three key issues in 2023-24.
Price Gouging Banks
Big banks and payday lenders price gouge Minnesotans who face difficult financial situations, keeping them in a never-ending cycle of debt. Banks shouldn’t be allowed to prey on these Minnesotans. That’s why we were proud to advocate for a cap on the interest rate banks can charge for small loans.
See how your legislator voted here. This was a party-line vote with all Democrats in the Minnesota House voting to support this legislation and all Republicans voting against it
Price Gouging Junk Fees
Minnesota’s economy has been overrun with junk fees, the “service” and “convenience” charges applied to everything from live events tickets, hotel rooms, and car rentals to rental housing, phone bills, and storage units. Corporations like Ticketmaster price gouge Minnesotans with these hidden junk fees.
These junk fees cost the average Minnesota family more than $3,000 per year, but give them no additional products or services.
Junk fees give greedy corporations an unfair advantage, stifling competition and hurting Minnesota's local and small businesses.
This year, the Minnesota legislature stood up to Ticketmaster and wealthy corporations by banning these obnoxious junk fees.
This was a mostly party-line vote with all Democrats in the Minnesota House voting yes and most Republicans voting no on final passage. See how your legislator voted here.
Price Gouging Drug Prices
Drug companies are price gouging Minnesotans, padding big pharma profits at the expense of those who need lifesaving medication. In 2022, Americans channeled a whopping $633.5 billion into prescription drugs, as prices have skyrocketed due to pharma greed.
In response, the Minnesota legislature took action by spearheading the creation of a prescription drug affordability board. This board will establish price limits on medications for drugs deemed unreasonably high, bringing down costs for families who are struggling to afford their medications.
This legislation was passed on a party-line vote with all Democrats in the Minnesota House voting yes and all Republicans voting no. See how your legislator voted here.