As Cost of Living Crisis Razes The US, President Joe Biden Goes After ‘Resort Fees’
President Joe Biden is facing criticism from average joes on the decision to crack down on something as seemingly trivial and out of touch as “resort fees.” At a time during which Americans are struggling with the rising costs of essentials like eggs and fuel, and more than half a million people in the country now find themselves homeless, this appears to be a major priority.
Several Twitter users also pointed out that he could “just help Ohio” which is still dealing with the air quality disaster from Norfolk Southern’s derailment.
The plan to ban resort fees was also mentioned in the president’s recent State of the Union address, and is included in the planned Junk Fee Prevention Act. The Biden administration defines “junk fees” as hidden or unexpected fees that can sum up to hundreds of dollars each month.
“Junk fees are not only costly to consumers, but they can stifle competition by encouraging companies to use increasingly sophisticated tools to disguise the true price consumers face,” the White House claimed. “By reducing these fees and increasing transparency, we can provide relief to consumers and make our economy more competitive, particularly for new and growing businesses.”
Apart from surprise, non-optional resort and destination fees, the legislation will seek to crack down on excessive online concert, sporting event, and other entertainment ticket fees, ban airline fees for family members to sit with young children, and eliminate exorbitant early termination fees for TV, phone, and internet services.
“The President is calling for passage of a Junk Fee Prevention Act to provide millions of Americans with fast relief from these frustrating and costly fees,” the White House said.
While the Biden administration also announced plans to restore the Child Care Tax Credit, and lower healthcare costs and strengthen Medicare, the Junk Fee Prevention Act was criticized as much of the coverage of the planned legislation addresses costs related to leisure, something that everyday Americans are now less able to afford.
Information for this briefing was found via Twitter, the White House, and the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.