President Biden on Wednesday unveiled his administration’s new initiative to combat “junk fees” that unfairly prey on unwitting consumers.
In a bid to give US families more “breathing room,” the White House is calling on “all agencies to reduce or eliminate hidden fees, charges and add-ons for everything from banking services to cable and internet bills to airline and concert tickets. “
The push comes less than two weeks from an election in which voters give Biden poor marks on key issues like the economy and inflation.
CRUSHING INFLATION COULD PUSH UNEMPLOYMENT TO 6%, WALL STREET BANK WARNS
Biden offered examples of junk fees his administration is seeking to eliminate for consumers, including airline rebooking fees, hotel “resort” fees and unfair banking penalties.
“Each year, these junk fees, in addition [to what] companies charge, cost Americans tens of billions of dollars — weighing down family budgets and making it harder for people to pay their bills,” Biden said at a Wednesday press conference.
“I appreciate the frustration of the American people,” Biden remarked at the end of his speech.
BIDEN SLAMMED FOR ANTICIPATED STRATEGIC PETROLEUM RESERVE RELEASE: NOT ‘A LONG-TERM SOLUTION’
Biden took the opportunity to boast of a third consecutive week of declining gas prices, though costs remain historically high.
Biden announced last week his intention to sell more oil from the nation’s emergency stockpiles and blamed energy companies for increased costs facing consumers.
CLICK HERE TO GET THE FOX BUSINESS APP
The average price of gasoline nationwide fell to $3.85 per gallon on Oct. 20, about 14% higher than its level a year ago and 60% higher than it was when the president took office in January 2021, according to AAA data.
As of Wednesday, the national average for gas prices is $3,764.