Rep. Peters Maintains Momentum to Lower Inflation and Cut Costs for Americans
WASHINGTON, D.C.— This week, Rep. Scott Peters (CA-52) voted to pass two bills that reduce food and energy prices, address supply chain challenges, and help get goods to the global marketplace faster: the Lower Food and Fuel Costs Act and the Ocean Shipping Reform Act. Peters’ support for these two bills comes days after the New Democrat Coalition (NDC) released a comprehensive Action Plan to fight inflation, lower the cost of living for Americans, and secure the long-term fiscal future of the nation. Rep. Peters serves as Vice Chair for Policy of the NDC and led the effort to create the Inflation Working Group that crafted the action plan to fight inflation.
“These two bills target the intertwined causes behind the high prices and shipping challenges that force Americans to make painful economic decisions,” said Rep. Peters. “We still have a lot of work to do, and my colleagues and I will continue to seek ways to provide relief for struggling American families.”
The Lower Food & Fuel Costs Act is a package of bipartisan bills to lower prices for America’s families by giving America’s farmers and ranchers the support they need to thrive. The bill would:
- Reduce our dependence on foreign fertilizer production and includes bills to help American farmers lower their costs with U.S. Department of Agriculture funds as well as loan guarantees to pay for solutions to use fertilizers more efficiently.
- Lower meat and poultry costs by increasing meatpacking competition and capacity.
- Expand access to Unleaded 88 and help deploy storage and dispensing equipment for higher ethanol blends, biodiesel and sustainable aviation fuel to lower prices at the pump by making cheaper, cleaner Unleaded 88 more available.
By voting to support the Ocean Shipping Reform Act, Rep. Peters also helped to alleviate the consequences of Americans buying large volumes of goods online during the COVID-19 pandemic. The resulting port congestion left American exporters, including farmers, struggling to get their products to global markets due to unpredictable sailings, ocean carriers denying American cargo, and high freight costs.
The Ocean Shipping Reform Act aims to level the playing field for American exporters and importers by providing the Federal Maritime Commission (FMC) the necessary tools to improve oversight over international shipping companies and crack down on rising shipping fees that hurt American consumers. President Biden signed the Ocean Shipping Reform Act into law today.