Casey, McCormick debate price gouging in final duel for Pennsylvania Senate seat

Turning down inflationary pressure remains front of mind for voters in Pennsylvania.The two US Senate candidates vying to represent them for the next six years both want to fix it, but don’t even agree on why it exists.For incumbent Democratic Sen.Bob Casey Jr., the correlation between corporate profits – up 75%, five times the rate of inflation, he says – equals causation.

Republican challenger Dave McCormick said bad economic policy from the Biden administration deserves all the blame.“Corporations were engaged in price gouging, taking advantage of the pandemic and the inflationary pressures and I think we should do something about it,” Casey said.“We should point it out like I have, issue reports on it.”Then there’s legislation he supports, alongside Vice President Kamala Harris, that fines companies accused of price gouging. According to a recent Voters’ Voice Poll, 46% of respondents support the idea, though views are mixed about how it would impact prices.McCormick is far more certain about the consequences.“This legislation? It’s saying the government should decide,” he said.

“This is socialism.”Under Harris’ plan proposed in August, the Federal Trade Commission would impose “harsh penalties” on companies that break limits on price gouging, though it’s unclear what those limits or fines could look like.Critics, including McCormick, say price caps have been tried before – by the Nixon administration in the early 1970s in the U.S.and by Communist regimes worldwide – and they cause more harm than good.The Republican nominee said $5 trillion in new spending authorized by the Biden administration helped drive up rent, gas, groceries and utilities prices by double digits.

McCormick added that Casey voted for the appropriations, too.“The one thing we learned in the Army Day 1 is you’ve got to take responsibility for your actions,” he said.“He’s not taking responsibility for his actions.These votes were obviou...