The US Congress on Monday debated legislation to prevent shipping companies from raising their prices as inflation hits new records.
• Also read: Who Is Camille Vasquez, Johnny Depp’s ‘Star’ Lawyer?
“Inflation is America’s number one source of frustration right now, and the queues at our ports is one of the main drivers of the price cuts we’re addressing in this bill,” said Senate Democrat leader Chuck Schumer.
In mid-March, the House of Lords unanimously approved this bill, which aims to improve regulation of sea freight companies by, among other things, allowing a special body to investigate their business practices.
The text will be submitted to Parliament for a vote on Monday evening.
The American President asked Congress to adopt this text as soon as possible. “I can’t wait to sign him because we have to drop prices,” he said in a video posted to his Twitter account on Thursday.
“It won’t solve everything, but it will help a lot,” Joe Biden pleaded.
The fight against inflation could weigh on the US economy and even stoke fears of a recession.