close video Rep. Michael Rulli: Kamala Harris’ price control plan is ‘most reckless rhetoric’ by candidate
Rep. Michael Rulli, R-Ohio, reacts to Vice President Kamala Harris’ price fixing plan on ‘The Evening Edit.’
U.S. grocery stores may be unrecognizable under a Kamala Harris administration, as one Republican lawmaker warns of the ramifications of price controls.
Ohio lawmaker and grocery store owner Rep. Michael Rulli sounded the alarm over Harris’ communist-style plan to combat high grocery prices, warning that the "reckless rhetoric" could turn the U.S. into the likeness of Cuba and Venezuela.
"It shows the incompetence of the opposition party. They’re looking for this magic bullet to fix everything," Rep. Rulli told "The Evening Edit" last week.
'BAR RESCUE'S' JON TAFFER SHREDS KAMALA HARRIS' PRICE CONTROL PROPOSAL: 'IT'S A NIGHTMARE'
Vice President Kamala Harris speaks to a crowd during a campaign event at James B. Dudley High School on July 11, 2024, in Greensboro, North Carolina. (Photo by Sean Rayford/Getty Images / Getty Images)
"If they do this, say Procter and Gamble is producing a bottle of Tide and they're selling it for $4.99 and the Harris administration says you have to have a price freeze for the next four years. As soon as oil goes up, labor goes up, insurance goes up, transportation goes up… As soon as all of that starts going up, that product now is over $6 to manufacture," he explained.
The vice president’s economic agenda includes a recently announced push to enact controls on alleged "price gouging" by food and grocery companies and prevent them from reaping "excessive profits."
Rulli, whose family founded Rulli Bros. Market in Ohio in 1917, said consumers would be faced with fewer options at the grocery store as the manufacturers would stop producing certain products due to costs. close video Larry Kudlow: No one is talking about Kamala’s economic policy debut
FOX Business host Larry Kudlow says there was no whit of policy presented at the Democratic National Convention on ‘Kudlow.’
"What she’s going to do, she’s going to turn this into Cuba, [and] Venezuela where you’re going to be down to 5,000 SKUs… you’re not going to have the products that you’re used to," he said.
Rulli expressed that Harris’ proposal would "hurt the regular working family and their standard of living."
HERE'S WHY GROCERS ARE REALLY RAISING PRICES
Earlier this month, Harris told supporters that her plan would include "new penalties for opportunistic companies that exploit crises and break the rules," support smaller food businesses and help the food industry "become more competitive."
"I interpret it as 'Kamala-ism'. It is communism," Rulli stressed during his appearance on "America Reports" earlier in the day. close video Kevin O’Leary: ‘You’re giving all this away to the big guys and nothing for the small guys’
O’Leary Ventures chairman Kevin O’Leary discusses Commerce Secretary Gina Raimondo’s ‘unfamiliarity’ with jobs revision on ‘The Evening Edit.’
He explained that her plan would cause urban stores to go out of business first, followed by mid-sized grocers and lastly, the traditional "big box stores" such as Kroger, Public, etc.
"So, you're going to be limited to what you can buy. You will be living in Cuba. You will be living in Venezuela. It will not be the American life that you're used to living right now," he warned.
'BAR RESCUE'S' JON TAFFER SHREDS KAMALA HARRIS' PRICE CONTROL PROPOSAL: 'IT'S A NIGHTMARE'
FOX Business’ Eric Revell contributed to this report.